A Secular Cape Wave Prospective

  title={A Secular Cape Wave Prospective},
  author={Terry Grennon},
  journal={Capital Markets: Asset Pricing & Valuation eJournal},
  • Terry Grennon
  • Published 2016
  • Geography
  • Capital Markets: Asset Pricing & Valuation eJournal
Based on expected US equity secular forecasts according to the Elliott wave, the secular bear which started in 2000 puts a bottom about 80% below 2000 highs. This paper translates and illustrates an equivalent prospective wave (inverted) which places the Shiller CAPE at approximately 7.5.