US equities restored 8.4 trillion in value since the lows in 2009 (source: Bloomberg)

Banks and Brokerages gained 25% in 2012 (source: Bloomberg)

Average analysts forecast for US EPS in 2013 is 5.2% or $103.41 per share.  This means the forward P/E ratio of the SP500 is approximately 13.6 or about 17% below sixty year average of 16.4

Recovery times for the SP500: after the Great Depression it took 25 years for the index to hit a new high, in the 1970s and 2000s it took about seven years (source: Bloomberg)

BRIC markets (Brazil, Russia, India and China) rose 11% in 2012 lagging the MSCI All Country World Index by 1.6%. BRICs values are still 36% below 2007 highs.

Lowest Price to Book for countries as of November 2012:

-          Italy at 0.7

-          Austria at 0.8

-          Japan at 0.9

-          Korea at 1

-          Russia at 0.6

-          Hungary at 0.8

Highest Price to Books for countries as of November 2012:

-          Denmark art 2.2

-          Indonesia at 3

-          Mexico at 2.6

-          USA at 1.9