Tuesday, March 8, 2016

Valuation Levels

Taking last Friday's US large cap market close and using current and projected next twelve month's earnings, the justification for a well above average P/E ratio rests on no negative impacts to the key inputs of earnings, growth of earnings, and an appropriate discount rate. If, however, an exogenous event were to occur with the global economy limping along at just above stall speed, what are the odds that such an impact were to occur - specifically to earnings and its growth rate? And, therefore, shouldn't such a risk give one pause to the justification of an above average valuation level for equities?

Tuesday, March 1, 2016

Last Friday's Bloomberg radio appearance is available to listen to on my "Beyond The Sound Bite" media blog.

Thursday, February 25, 2016

Bloomberg radio

Tomorrow's appearance on Bloomberg radio will cover my recent travels and events (8 events over a 6 week span) plus the key dynamic impacting the global economy and markets: an excess supply of just about everything and an insufficient demand to meet that supply.

To listen, "click here."