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<blockquote data-quote="Up In Smoke" data-source="post: 4491321" data-attributes="member: 79702"><p>The market was trying to trade at 25 times forward earnings. With few companies willing to give forward guidance, the PE model on which we invest is broken. Investing is a gamble in ordinary times and we are far from there right now.</p></blockquote><p></p>
[QUOTE="Up In Smoke, post: 4491321, member: 79702"] The market was trying to trade at 25 times forward earnings. With few companies willing to give forward guidance, the PE model on which we invest is broken. Investing is a gamble in ordinary times and we are far from there right now. [/QUOTE]
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