Zim dollars no good for toilet paper!

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The sign below was photographed at the Beitbridge border crossing between South Africa and Zimbabwe.

Source: Unknown


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US stock market returns – what is in store?

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Based on a multi-year comparison of the price-earnings (PE) ratios of the S&P 500 Index and the forward real returns, investors should be aware of the fact that the stock market is by historical standards only in “average value” territory. As far as the market in general is concerned, this argues for unexciting long-term returns, possibly a “muddle-through” trading range for a number of years to come. […]

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