Except for the 1976 and 1983 declines that started at less than 12 times earnings, most began at or
above current valuations.
If DFS was valued at the level implied by the trend line in Figure 1, it would be worth ~ $ 167 / share today, 174 %
above its current valuation.
If AMGN was valued at the level implied by the trend line in Figure 1, it would be worth ~ $ 270 / share today, 58 %
above its current valuation.
According to the regression in Figure 1, ROST should be worth ~ $ 67 / share, 19 %
above its current valuation.
Not exact matches
To expect normal or
above - average long - term returns from
current prices is to rely on the market bailing out the rich overvaluation of today with extreme bubble
valuations down the road.
On the basis of the most reliable
valuation measures we identify (those most tightly correlated with actual subsequent 10 - 12 year S&P 500 total returns),
current market
valuations stand about 140 - 165 %
above historical norms.
On a wide range of historically reliable measures (having a nearly 90 % correlation with actual subsequent S&P 500 total returns), we estimate
current valuations to be fully 118 %
above levels associated with historically normal subsequent returns in stocks.
Based on the
valuation methods outlined
above and the company's own growth projections, it seems to me that if all goes well then BitGold could grow into its
CURRENT market cap in 2 - 3 years.
However, just because its
current valuations are
above the historical averages will not cause a correction in the markets.
According to Onda Cero, a Spanish radio station, it's claimed that Liverpool don't want to sell their most prized asset, but if Barcelona are willing to go
above their
current # 118m bid and meet their
valuation of Coutinho, then they may well consider it.
In both cases, the end of the black line (representing
current price) sits just
above the blue line (normal
valuation over time).
At the
current share price, Yahoo shareholders are essentially getting its core business for free based on the
above sum of the parts
valuation.
An IPO is getting closer for Alibaba which will provide a
valuation for it likely
above what is reflected in Yahoo's
current share price.
As you can see, we've moved into a rare area on the graph where
valuations are far
above their typical levels for the
current level of economic volatility.
On the most reliable measures we identify,
current valuations actually approach 150 % to 170 %
above those norms.
The
current valuation of the stock market is well
above the 5 - year average (15.1) and its 10 - year average (14.4) as well.
Today the company appears attractive with an
above - market
current dividend yield and attractive
valuation.
I think the
above exhibits show that on the basis of
current public company
valuations, a direct competitor
valuation, EGI's previous public company
valuations and recent transaction multiples that the company is significantly undervalued from a number of perspectives.
However, you sometimes need to think outside the box to obtain superior returns, and Vanguard Emerging Markets ETF could deliver
above - average gains from
current valuation levels.
Based on this perspective, the only way the market is not substantially
above sustainable
valuation levels is if
current long - term interest rates permanently remain at these levels.
In the past year, Bitcoin has undergone a meteoric rise in value, from around US$ 700 a year ago to its
current valuation above US$ 4000.
As described
above (see Discussion,
Current Understanding of RACC, mOFC, and Default Mode Network) RACC - OFC has been proposed as one important hub for integration of emotional, sensory and visceral information, aiding in
valuation of expected rewards for competing potential choices.