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Looking at some big numbers right now -- is markets let's bring in drew.
Cam Neely Tennessee you can really trust -- I'm looking at a -- high right now on the Dow 14100807.
Same thing in a fresh intraday high all time high for the S&P I mean these markets seem to does not want to stop.
How are you tell your decline has identified gravity.
But still I worked out well I -- yeah I I.
Think I think the thing that to not focus on is the actual level of the index I mean it -- it -- might mean something to charters in the short term.
But if you really look back at the par market peaks -- hit 2002007.
There's there's very little in common I mean.
Dividends are double what they -- in 2000.
And -- sales per share.
Cash per share is almost triple.
What it was in 2000 if you look in the 2007 experience you see the same thing were about 20/20 5% higher than we weren't so.
So what happened when rather remarkable that wouldn't let me back up because they're saying something that I wanna -- -- to dig -- for our -- here's basically saying back.
Even though we're back where we work in 2007.
And that this is a different than two thousands it -- that's a different market because you say that companies are better shape than than they were 07.
Yeah without a doubt I mean they're better than world where they were in 2000 they're better than where they were in.
I mean there really isn't.
Fundamentally any comparison now.
What what people sort of he can -- side of the business.
Look at is is this overall trend going down of the PE ratio were like 2829 times in 2000.
We were like nineteen times in 2007.
So you sort of see this downward trend.
In that the -- earnings ratio that that people are willing to pay.
So that's sort of the the red flag here if you want to say gosh where's where's the cautionary tale here it would be -- that.
PE ratio trend but if you look at fundamentals whether it's cash on the balance sheets the dividends being paid for our earnings per share which gap for operating.
I hate all boat -- a -- -- the -- only had about 5% though the S&P 500 report earnings so far so this.
When -- get get united 5% through this could be entirely new story -- several analysts have come on the show and said that we need to be careful as we hit these new.
All time highs that you basically don't -- the top -- for those pullbacks of media guide expecting some pull back at some point.
You do and they just happen and sometimes they're they come from unexpected quarters.
-- but -- I'm I'm not really sure it really comes from an earnings disappointment because.
It seems like that's kind of priced -- I mean going into this year.
Everybody knew that earnings comparisons -- going to be very difficult the contribution on on margins was was declining all through last year you knew that going in right.
So it's it's it's probably you're more likely to see a surprise on the -- side it is what you might.
Honestly your I know you don't you don't watch the day today tried to focus in the day today that we did get news of the Fed minutes came out.
Our early it was a mistake they gave the day trader who -- -- -- a head start do you look at things like that -- matter to you you're universe.
Well what you what you look at is.
Like our chief investment officer James Sean pointed out to make at least they're having a -- -- conversation.
About fed policy that that it's not all groups think that there's some serious concerns about what fed policy is now and what should be in the future.
The actual content in this fed minutes there is they've -- is pretty mix I don't you look at the markets today they don't seem to care.
But but what we look at it can -- was there was a thoughtful conversation about what to do with fed policy going forward that's good news.
All right -- certainly has been -- having some.
Discussions over there in DC drew an elite drew thank you very much to have him show again.
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