Stock market performance over any time period can be broken down in terms of the change in the underlying earnings-per-share and the change in the P/E multiple. The best scenario is when earnings are growing and P/E multiples are expanding.If earnings are declining and P/E multiples are contracting then the market is facing dual headwinds. http://www.seasoninvestments.com/insights/valuation-matters/
The current path of government debt and central bank balance sheet expansion is clearly unsustainable.Everyone knows this and yet interest rates are at historically low levels. Will there ever be a tipping point which changes the direction of interest rates, and if so what will be the catalyst and when will it happen? http://www.seasoninvestments.com/insights/tipping-point-for-interest-rates/
