What I Would Pay For Stocks

I've gotten a few requests for this (even though my advice as of late stinks!):

S & P 500 Index


- Standard & Poor's estimates for 2010 1 year trailing earnings

3/31/2010	$29.48
6/30/2010	$32.32
9/30/2010	$34.61
12/31/2010	$35.67

Average: $33.02


- Average earnings yield since 1988:

4.796%


- Current earnings yield using 2010 forecast:

3.655%


- Implied correction

Drop of 23.795%


- What I would pay for the S & P 500:

688.49


This roughly corresponds to a 6,400.00 Dow Jones Industrial Average.