Well, ladies and gentlemen, we should all subtract 3.5% from our portfolio performance, as that is about the inflation rate for 2011.
And thank you all for posting! Come on, people with international equity exposure, come clean and 'fess up.
And by the way, as I posted on another thread, S&P forward P/E is now at 12, compared to its average of 15. Of course, it is anybody's guess as to whether S&P earnings will be revised downward or upward in the days ahead.
Additionally, I read somewhere that MSCI emerging stock index has an even lower P/E of 11.
Meanwhile, the 10-year T-Note yield is slowly inching up to 2%. Yes, 2%/yr for the next 10 years, while the inflation is already almost twice that. What do you do? Heh heh heh...