No qualifying author-owned investment thesis was confirmed in this post.
no investment thesis
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*"Historically, if you bought the S&P500 when the PE ratio was 23, in every case, there were no exceptions, your annualized return over the next 10 years was between 2 and -2."*
\- Howard Marks (Warren Buffett: "When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something.")
The S&P500 PE ratio now is 29.36. ([https://www.multpl.com/s-p-500-pe-ratio](https://www.multpl.com/s-p-500-pe-ratio))
Perhaps this time it's different?