Well, of course we have no idea whether Yardeni was talking casually to an interviewer when he made the comment. Was he thinking out loud with an off the cuff remark, or had he given the subject enough thought/analysis and somewhat deliberately stated ‘double [the usual 15]?’
SPX 4000 – why not? That’s about a +30% gain from here.
Why pay 30x earnings to own stock? I think it comes down to supply and demand. If PE ratios for individual stocks can rise to unimaginable levels, then why not PE ratios for sectors/ indices?