If you go with an excessive stock allocation
at times of high prices, you sustain intolerable losses and then suffer an emotional desire to «recoup» the losses.
Many stock investors reject claims that they should lower their stock allocations
at times of high prices on grounds that it would be a mistake to show a reluctance to take on risk.
Shiller's showing that the stock market is a Ponzi scheme
at times of high prices will allow us for the first time to discover what it is we need to do as investors to insure that the stock market never again becomes a Ponzi scheme.
The logic that says that there is no need to make upward adjustments in the SWR for retirements beginning at times of low prices also says that there is no need for making downward adjustments
at times of high prices.
Juicy Excerpt: The full reality is that aged investors are better sticking with high stock allocations at times of moderate and low prices and all investors (not only aged investors) should be going with low stock allocations
at times of high prices.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the
timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future
pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase
price for our announced acquisition
of Asco on favorable terms or
at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to
higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
The bureau says it has reason to believe the stores «failed to offer certain sleep sets
at the regular
price or
higher for a substantial period
of time [and]... did not sell a substantial volume
of some sleep sets
at the regular
price or
higher for a substantial period
of time.»
«We view this as a «home - run deal» for Disney and while its an aggressive acquisition with a
high price tag, in our opinion this is the right move
at the right
time as the marriage
of these assets creates a much more formidable Disney,» Ives said.
As for the number
of homes
priced $ 5 million or
higher, the area had 12 listed
at the
time the research was collected.
If you just charge people a lower
price when there's a lot
of wind and sun (when the supply
of electricity is abundant and cheap) and a
higher price at times when there's not, they'll reduce consumption when electricity is scarce.
The
price of wheat is
at an all -
time high, the share
price of AWB Ltd (once known as the Australian Wheat Board) is
at an all -
time low.
If they're not open to a
higher retainer or an extended project scope, it might be
time to let them know that you're unable to do the amount
of work they need
at their
price point and suggest severing the relationship.
Indeed,
at press
time, 14
of the year's 25 bestselling cookbooks were hardbacks
priced at $ 20 or
higher that sold more than 30,000 copies each, according to Nielsen BookScan.
In October the company's shares surged past their all -
time high price of $ 59.56, recorded in the heady days
of the dotcom bubble and
at the tail end
of a decade that the company unquestionably ruled.
It may have to do with Addyi's
high pricing (on par with Viagra
at $ 26 per pill without an assistance program), its daily intake requirement (unlike Viagra, it adds up to $ 780 per month), its potentially deleterious side effects (low blood pressure and fainting), its restrictions on alcohol consumption (abstinence vs. large quantities not recommended for Viagra patients), a 10 % efficacy rate (whereas Viagra works 50 %
of the
time compared to a placebo, according to a recent study), and its subtle neurotransmitter - targeting mechanism (contrast that to the obvious hydraulics
of Viagra).
Morgan Stanley analyst Vincent Meunier said the
price still implied a valuation
of 4.7
times sales and around 19
times operating profit (EBITDA) for the business,
at the
high end
of recent deals in the sector.
Perhaps a useful target would be to get Great Southern back up to its all -
time high share
price of $ 4.90,
at which
time (for anyone without a calculator) he will be worth a frightfully cool $ 269.5 million.
The S&P 500 gained 0.7 percent to finish
at 2,767.56 and reached an all -
time high, with energy surging on the back
of rising oil
prices.
The president followed up later in the day, tweeting that Merck «is a leader in
higher &
higher drug
prices while at the same time taking jobs out of the U.S. Bring jobs back & LOWER PRICES!&
prices while
at the same
time taking jobs out
of the U.S. Bring jobs back & LOWER
PRICES!&
PRICES!»
Although U.S. crude oil inventories are
at «historically
high levels» for this
time of year, according to the Energy Information Adminstration's Weekly Petroleum Status report, Molchanov predicts inventories will trend lower by the middle
of the year as
prices recover.
That emphasis — on
high - quality goods and low
prices — goes back to a
time even before Target's founding, says Laura Rowley, the author
of On Target: How the World's Hottest Retailer Hit a Bull's - eye and now a senior editor
at the Huffington Post.
The economy
at that
time benefited from much
higher rates
of productivity growth, which allowed employers to raise pay and hire more without having to lift
prices.
To be eligible, first -
time buyers must be pre-approved for an insured
high - ratio mortgage for
at least 80 per cent
of the home's purchase
price.
(Though if Snap
prices at the
high end
of its range
at $ 16 per share, giving it a valuation
of around $ 22 billion, it would trade
at almost 54
times sales.)
At a valuation of $ 19 billion, Snap stock would trade at 47 times sales, not quite as sky high as the price - to - sales ratio of 62 that we previously compute
At a valuation
of $ 19 billion, Snap stock would trade
at 47 times sales, not quite as sky high as the price - to - sales ratio of 62 that we previously compute
at 47
times sales, not quite as sky
high as the
price - to - sales ratio
of 62 that we previously computed.
With
pricing competition
at an all -
time high, retailers have to think outside
of the box when crafting a marketing or promotional strategy for their online store.
The last
time the public
at large heard much about digital currency was in late 2013 to early 2014, when the Bitcoin
price last touched its then all -
time high of $ 1242 dollars.
Even industry competitors — like Ford, which trades
at a ratio
of 6.6, and Toyota, which trades
at 9.7
times — trade
at higher multiples, and GM's average
price - earnings ratio over the past five years is 12.2.
With the NASDAQ in a raging bull market and trading
at fresh all -
time highs, you may be tempted to chase the
price of leading stocks in fear
of missing out on the next monster gainer.
The
Times looked
at two sorts
of historical data — the closing
prices of the S. & P. 500 - stock index as well as the
highest and lowest points the index reached during each trading day.
As is frequently detailed on this blog, stocks and ETFs trading
at new 52 - week or all -
time highs typically repeat the «base, breakout, base, breakout» cycle several
times before eventually entering into a substantial correction, as there is a complete lack
of overhead supply (no technical
price resistance).
While I generally consider this advice to be wise, especially for inexperienced investors who should probably opt for something like an index fund, working with a qualified advisor or, if they are wealthy enough, an asset management group, the problem comes from the fact that if you find a truly outstanding business — one that you have conviction will continue to compound for decades
at rates many
times that
of the general market, even a
high price can be a bargain.
«Given that home builders are already grappling with 20 percent tariffs on Canadian softwood lumber and that the
price of lumber and other key building materials are near record
highs, this announcement by the president could not have come
at a worse
time.
Prices for important commodities remain
high and the nation's terms
of trade are
at an all -
time high in the current quarter.
When he is on one
of his manic
highs, his offering
price for the business is
high as well, because everything in his world
at the
time is cheery.
But by the
time MPs actually get around to holding hearings several months from now, the
price of crude may well have fallen to the point that this most recent bout
of pain
at the pumps will have been forgotten — or it may have soared so
high that the only affordable way anybody will be getting to Parliament Hill is by bicycle.
The last
time gasoline was
at $ 2.80 per gallon was in the summer
of 2015, and it's quite possible gasoline
prices this year could surpass that to a four - year
high this summer.
Because the South Korean bitcoin exchange market have outgrown many major markets and demand from local investors are
at all -
time high, Demeester explained that in the short - term, the
price of bitcoin may depend on the South Korean bitcoin market along with Japan and the US.
You can increase competition with anti-trust enforcement, and regulate natural monopolies and both (in the case
of the newly merged
Time Warner Cable), create greater transparency
of prices, use government purchasing power, restore previous
price controls (and please a federal usury law
at no more than 15 %, to prevent debt bubbles
of higher inflation).
Shkreli initially defended the move, saying it was a bargain even
at the
higher price, since it can save a patient's life within a limited amount
of time.
(Note: Last year's numbers are based on
prices at the
time of the analysis, not initially approved
prices, so they may be slightly
higher than initial figures.)
The news has prompted a significant selloff
of bitcoin, with the
price falling from near all -
time highs of $ 1,300 to under $ 1,100
at the
time of this article's writing.
Bitcoin futures made their trading debut
at two
of the world's leading options exchanges — the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME)-- and
prices in the spot and futures market hit an all -
time high on 18 December, closing in on USD 20,000.
Trump lashed out quickly
at Frazier on Twitter after the announcement, accusing the drugmaker
of being «a leader in
higher &
higher drug
prices while
at the same
time taking jobs out
of the U.S.»
Every
time a property changes hands
at a
higher price, building assessments are raised proportionally — and begin to be re-depreciated for these
higher valuations, regardless
of how often the buildings already have been written off.
You'd think that corporate debt would grow in proportion to total sales, as this additional debt is used to fund investments in productive activities that create more sales and contribute to the economy, and that
higher sales, and presumably
higher earnings would create a proportionate increase in the value
of the company, and thus in its stock
price, and that they all go up together, not in lockstep but over
time more or less
at the same rate.
The Nasdaq 100 has been lurking within 2 %
of its all -
time high since late February and Friday's monster gain
of 1.8 % finally achieved the inevitable.February's Consumer
Price Index data is due out Tuesday
at 7:30 a.m. Central.
Peterffy noted that if bitcoin futures were trading
at that
time, under the CBOE's rules those futures likely would experience repeated trading halts because
of limits on how
high or low the
price can during the trading day.
Back in 2014 — when oil
prices were still around $ 100 — the Eagle Ford's economic impact was estimated
at $ 123 billion in the 21 - county area — an all -
time high to - date, according to a June 2017 report by the University
of Texas
at San Antonio's Institute for Economic Development.
At the same
time, rising rates depress bond
prices and may be especially tough for credit - sensitive bonds, because
higher rates increase the cost
of capital.