The S&P 500 is about as pricey as it ever gets. It’s also in freefall as I write.
This is good news for anyone looking for a future bargain. The plunge, however, is really bad news for most retirees who don’t read this column. They tend to own nothing except “America’s ticker” via the SPDR S&P 500 Trust ETF (SPY).
At 24-times earnings (P/E ratio), SPY is expensive. After all, who has 24 years to wait to get paid back?
Since you and I are in “pay us back soon” mode, we want our retirement portfolio in stocks that…
The post How to Buy Mammoth Yields at Half the Cost of the Market originally appeared at Contrarian Outlook.