Goldman Misses The Point: Equities Aren't Cheap Bonds Are Insanely Expensive

Goldman portfolio strategists Peter Oppenheimer and Matthieu Walterspiler are out with a report getting big of attention.  The report presents the generationally important bullish case for stocks relative to bonds. 

I'm worried this report will be the case for everyone to go 100% into equities and then get clobbered when the bond bubble bursts.  I agree that equities are stupidly undervalued relative to government bonds but it's only because EVERYTHING is at an historic low valuation relative to government bonds.

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