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Invesco Mortgage Capital Inc. Message Board

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  • marklibera marklibera Sep 9, 2011 1:28 PM Flag

    S&P P/E around 11

    But that assumes the "E" in the p/e stays the same. In a recesssion, the "E" always goes down. Same thing happened in 2008.

    This market hasn't been based on fundamentals in a very long time. We had panic, liquidation selling in 2008, but then we had the Fed-driven buying during the QE periods. From the looks of it, we have more liquidation of assets going on now.

10.32-0.40(-3.73%)Feb 9 4:03 PMEST