Equities: This Time Is Not Different

This should silence those who have doubted the current equity rally under the pretext that this time is different. Equities seem to rally despite the prospect of weak growth in the near-term. And that is the way it should be - equities are a claim to extremely long duration cashflows.




Source: Reinart and Rogoff;"Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison"