Subject: Re: Buffett Indicator 140%
"Whatever metric we use, market cap/GDP, P/S, nonfinancial market cap/gross value added or whatever, the forecast for the return of the S&P 500 over the next 10-2 years is dim, lower than Treasuries."

GMO updated its forecasts for various asset classes on Friday. Their 7-year forecast for US large caps is -1.1% real. Research Affiliates' 10-year forecast for US large caps as of Feb 28 is +2.2% real.