The document discusses the trends in nominal and real GDP growth rates and their implications on equity returns and valuations. It highlights the mean-reverting nature of profits relative to GDP growth and examines the US CAPE ratio, noting its historical highs before major market crashes.
doj/DataSet10/EFTA01384479.pdf
{"title":"Long-Term Asset Return Study: The Next Financial Crisis","document_date":"2017-09-18","document_type":"tabular","key_locations":["US","UK","Germany","Japan","France","Italy","Canada"],"key_organizations":["Deutsche Bank"],"reference_numbers":["DB-SDNY-0084703","SDNY_GM_00230887","EFTA01384479"]}