Conversely, when value has led, forward returns for the broad index have benefited — such as in the first half of 2010 and late 2016. (heartlandadvisors.com)
Another quarter goes by, the market rises further, and the the 10 - year forward return falls again. (alephblog.com)
The red rectangle sums up the observed three - year forward returns when the PE was at levels not long ago. (businessinsider.com)