It has been several months since we've featured our chart showing the acceleration, or rather, the change in momentum, of stock prices and dividends per share, including expected future dividends per share, for the S&P 500.
A lot has happened in that time. First, the change in the year-over-year growth rate of stock prices appears to have gone through a spike in August 2012. We say "appears" because this effect wasn't a the result of what we would describe as a "noise event", where investors react, or really overreact, to an event in the news by putting the market though a major swing in stock prices, kind of the way a dog on a leash might react to the sudden sight of a squirrel while being walked.
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