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I'm with F958B in that 2000-2013 would represent a particularly short secular bear market when compared to history.

Bear's typically run for 15-20 years. Perhaps we did make a secular P/E low in March 2009 especially for the UK, Europe & Japan. However the US market remains overvalued and did not bottom on a CAPE low enough to signify the end of the secular bear as it usually bottoms on >10 CAPE P/E.

I think another 3-7 years of sideways movement at best whilst valuations regress to further below average.

Europe, UK & Japan are priced decently and I can see the merit of buying indexes in these markets but the US market is still way overvalued and often leads the others...

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