ns ex. Tech. 'Figure 3: S&P 500 trailing PE since 1950 'Figure 4: S&P 500 forward PE since 1950 n t s• 1 y r 21 19 ss i)sssis i;ee lseefl11 11 Toryna pc AC PE • Sant DealtS el* Ma 0) 20 22 IA 12 10 0 0 It o cr, ,„-, I .... Isitsfeaslatilvilit Nil Imadmkad•II0C40191 Sea Deuced*