The Price of the DJIA has been trading at a discount to its Value since Lehman as interest rates have remained very low. Despite the fear of a repeat of the Great Financial Crisis of 2008 to 2010 and the ever-present fear of imminent economic Armageddon, the Value of the DJIA has risen over 4 times from 19,000 to 82,000 dragging up its Price five fold kicking and screaming from 6,500 on March 9, 2009 to 34,000 on December 1, 2021. 

Despite the Price improvement it stands at a 59% discount to its Value. It is argued that we are now on the brink of a period of massive inflation with a pending upward explosion of interest rates. reminiscent of the experience of the latter half of the 1970s.  

While true that both short and long-term interest rates rose through 1981, inflation was good for cash flow, earnings and most important dividends which pushed up the Value of the DJIA and its Price doubled from the 1974 trough through 1980. Following thereafter, interest rates fell and dividends continued to rise. 

To find out where we are today and where we are going please read my book which can be found at:    

https://read.amazon.ca/?asin=B09NBJ4977

This eBoook can be ordered directly from the site for immediate delivery.  

It might also make a good present for your family, friends, clients, bosses, juniors, students or any bears that you know.

With best wishes for Christmas and the New Year.