There's one major market distortion standing in the way of 'normal' levels of interest and volatilit

"Normal" is getting stocks at a single-digit price-earnings ratio and 6% dividend yields. The bears want to get back to past levels of interest rates and volatility. But there's one major distortion in today’s market: price-insensitive buying. All we get is whining and complaining from the bears all the time. What is it they want? Really, they just want things to return to normal. But what is “normal?” I define normal as follows: when you can get stocks with single-digit P/Es...