Sentences with phrase «recent valuation extremes»

You'll notice that recent valuation extremes actually moved beyond the 1929 and 2000 peaks.

Not exact matches

That's the one signal that has been favorable during most of the recent advance, and it is why, despite extreme valuations, I left as much as 20 % of our stocks unhedged until the interest rate climate turned hostile a couple of weeks ago.

It's important to distinguish between the level of valuations, which has indeed become breathtakingly extreme in recent years, and the mapping between valuations and longer - term market returns (which we observe as a correspondence, where rich valuations are followed by poor returns and depressed valuations are followed by elevated returns).

I've noted before that while the bubble peak in 2000 was the most extreme level of valuation in history on a capitalization - weighted basis, the recent speculative episode has actually exceeded that bubble from the standpoint of speculation in individual stocks.

With valuations extreme, interest rates rising, and market action now strongly unfavorable, the characteristics which were present during the vast majority of the recent bull market are now completely absent.