Re: Hi! I'm LRS
High interest rates and low P/E's do indeed entice.
Its the process of getting where we are now (the inverse) to that other place thats rather painful.
The transition to higher rates will badly dent intermediate and long term bonds, and even shock stocks (although they'll both benefit in the long run; the bonds from higher dividend rates and the stocks from the inflation that will undoubtedly be accompanying the interest rate hikes). Lowering of P/E's to anything near historical levels will drop prices of the total market by roughly 40-50%. Growth stocks will take it worse.
When I see things like "lowest rates in 40 years" and "very tame inflation" and "highest P/E rates in history", I can but assume we're heading in the other direction at some point. Either fast or slow.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.