Sentences with phrase «change in valuation»

Historical factor returns — net of changes in valuation levels — are much lower than recent performance suggests.

These large bubbles and crashes in the absence of significant changes in valuation cast doubt on the assumption of efficient markets that incorporate all public information accurately.

So I think the backup is much more a function of the broad changes in valuation, changes in the risk markets, as opposed to any early warning signs of credit deterioration.

The safe withdrawal rate is not a constant number but VARIES with changes in the valuation level that applies on the day the retirement begins.

The Speculative Return is defined as the annualized return caused by changes in valuations (such as the price to earnings ratio).

Success in this regard would likely prompt another step - change in valuation for Ovoca.

I have to read further details, but just by the look of the market cap of CVS (74.524 B) the news itself will be a material change in valuation of the company (in every aspect).

I made a sensitivity study of fixed stock allocations and changes in valuations in terms of Safe Withdrawal Rates.

By which I mean, that the gains that value investors achieve essentially * arise from the overall changes in valuation of value / small caps, rather than from their our stockpicking ability.

You vary stock and bond allocations according to major changes in valuations (Professor Robert Shiller's P / E10 for example).

Interestingly, if over the course of the forecast horizon, they go up and then revert back to where they are today, the effect on the return will actually be negative, because there will be no net change in valuation, but some of the ensuing dividends will have been reinvested at higher valuations than those available today.

I found this projection interesting and set out to examine how realistic it is, given what we know at this point in time, by decomposing total stock returns to its components, namely dividend yield, inflation, real earnings growth and change in the valuation multiple.

Start from the premise that the value proposition of stocks varies with changes in valuation levels, and you are led to a conclusion that the riskiness...

SInce the riskiness of stocks changes with changes in valuation levels, the important thing is to CHANGE your stock allocation as needed to keep your risk profile roughly constant.

These precursors may suggest that an underlying cause of these large moves — in the absence of significant change in valuation — may be due to the positioning of traders in advance of anticipated news.

Comments: «In 2013, it will likely be the change in valuation that drives most of the performance of stocks, and the sentiment shift and willingness to take on risk reflected in that movement will be meaningful for bonds as well.

In recent months, I've emphasized that despite prospects for a prolonged recession which I would expect to keep the stock market in a very wide trading range (probably for the bulk of 2009), long - term investors should not overlook the sea - change in valuations and security durations we've observed over the past 15 months.

Clorox has expanded its payout ratio from 40 % to 60 % over this period, which along with changes in valuation has resulted in a higher dividend yield over time.

The Importance of Measuring Returns Peak - to - Peak Stock returns equal income, plus growth in fundamentals, plus changes in valuation By John P. Hussman, Ph.D..

Per Figure 3, ROIC explains 83 % of the changes in valuation for the 42 Food & Beverage peers under coverage.

In that case, the change in valuation will make a net positive contribution to the overall return, which could push the total return well above 5.95 %, particularly on shorter forecast horizons where the annualized effect of the contribution would be greater.

Well, revenue growth would contribute 4 % annually if the price / revenue ratio was to remain at record extremes, but otherwise, we've also got to consider the effect of the change in valuations.

It's possible that change in valuation has something to do with a family's financial resources and priorities.

The historical stock - return data shows that it is best to CHANGE allocations with changes in valuations.

The speculative return is an adjustment for changes in valuations (e.g., P / E10).

Check how much the SWR changes in response to changes in valuations.

There were some significant programs updates this month, but none of them warranted a change in the valuations.

The change in the valuation multiple, proxied by Shiller's cyclically adjusted price - to - earnings ratio (CAPE), contributed 0.30 % to total returns over the last 130 years.

It's called Is It Possible That the 4 Percent Rule Still Applies Even Though the Safe Withdrawal Rate Varies With Changes in Valuations?

The last component of total returns is the change in the valuation multiple.

As the period of analysis lengthens, a larger contribution of a stock's return comes from a change in the fundamentals, compared with the contribution from a change in valuation multiples.

About 80 percent of first - year returns typically come from a change in valuation multiples and 20 percent from a change in fundamentals.

One way to project future expected returns, and to analyze past returns, is to separate them into a component that comes from growth in fundamentals and the component that comes from the change in the valuation multiple on those fundamentals.

We would also argue that a measure of structural alpha, which adjusts past performance for the changes in valuations, would be more suitable for this task 5.

To remove the effect of changes in valuation from your investments you just need to multiply the value of your stock investments by.672.

But what really drives the change in valuation multiples is the numerator; the price investors are willing to pay for a certain amount of earnings.

This is a relatively mild example, but the elimination of a loss - making division can easily produce a step - change in valuation...