Sentences with phrase «term valuation measures»

The equity market is well above where long - term valuation measures like the Q - ratio, and CAPE10 would value it.

Long - term valuation measures are flashing red.

That is why I focus on longer term valuation measures among short - term valuation measures that are neutral at best at present, Mean - reversion eventually takes hold.

Longer - term valuation measures — notably cyclically adjusted earnings (CAPE)-- are even more elevated and suggest low - to mid-single digit returns over the next five years.

Not exact matches

Our long - term forecasts are based on our assessment of current valuation measures, economic growth and inflation prospects, as well as historical risk premiums.

The essential thing to understand about valuations is that while they are highly reliable measures of prospective long - term market returns (particularly over 10 - 12 year horizons), and of potential downside risk over the completion of any market cycle, valuations are also nearly useless over shorter segments of the market cycle.

Historically - reliable valuation measures are remarkably useful in projecting long - term and full - cycle market outcomes, but the behavior of the market over shorter segments of the market cycle is driven by the psychological inclination of investors toward speculation or risk - aversion.

The Market Climate remains on a Crash Warning, characterized by extremely unfavorable valuations, unfavorable trend uniformity, and hostile yield trends, particularly long - term bond yields and various measures of risk premiums.

U.S. equities are currently trading near the top end of their long - term valuation range, based on the price - to - earnings measure.

On the basis of valuation measures most tightly related to actual subsequent long - term market returns, we also estimate that the S&P 500 is likely to be lower 12 years from now, compared with current levels, though dividend income may push the total return just over zero on that horizon.

Suppose we measure valuation by comparing price P to some measure of earnings E that isn't distorted by cyclical economic fluctuations, and can be used as a reliable, representative, «sufficient statistic» for long - term cash flows.

-LSB-...] The Index next separates the top 25 % of these countries as measured by Cambria's proprietary long term valuation metrics.

It usually does, and longer - term measures like the Q - ratio and CAPE10 showed that valuations at the peak were severely high.

Thus I find his argument regarding specialness of financial company accounting to be bogus — he is just searching for a way to justify valuations off of current earnings, rather than off of longer term measures.

U.S. equities are currently trading near the top end of their long - term valuation range, based on the price - to - earnings measure.

On long - term measures of value (for example, Graham's 10 - year trailing P / E ratio and corporate profits as a proportion of GDP) market prices are well below average and approaching all time lows (See Future Blind «s post Market Valuation Charts prepared in October last year when the S&P 500 was around 1160).

Other valuation measures, such as the ratio of the stock price to earnings and stock price to revenue, are also analyzed in relation to expected future growth of cash flows in an attempt to measure underlying value and the potential for long - term returns.

While we often have very strong views about long - term and full - cycle market outcomes (based on valuation measures that we find strongly correlated with those outcomes in market cycles across history), we rarely have pointed short - term market expectations.

In their March 2012 paper, «Analyzing Valuation Measures: A Performance Horse - Race over the past 40 Years,» Wes Gray and Jack Vogel asked, «Do long - term, normalized price ratios outperform single - year price ratios?»

However, they did manage a resource upgrade, so that helps... I'm still comfortable with my long - term $ 150 per proved oz in - the - ground gold valuation, so in this instance I'll apply a 50 % discount to their 32 K of measured oz & a 75 % discount to their 148 K of identified oz (ignoring inferred resources, at this point).

In their March 2012 paper, «Analyzing Valuation Measures: A Performance Horse - Race over the past 40 Years,» Wes Gray and Jack Vogel asked, «Do long - term, normalized price ratios outperform single - y...

The Index next separates the top 25 % of these countries as measured by Cambria's proprietary long term valuation metrics.

ARTnews magazine has devoted its June issue to a special report assessing the state of women in the art world — how women artists are faring in terms of solo museum exhibitions and representation in museum collections, gallery representation, press coverage and market valuation, and also measuring opportunities garnered by female curators and museum directors.

Measured in % change in price over a given period, high volatility means unstable asset prices that experience wild, hard - to - predict swings in valuation over the short term.

«A number of fundamental valuation measures, including the ratio of home prices to household incomes and home prices to rents, suggest average U.S. housing prices are moving back in line with long - term trends,» says Warren.