Sentences with phrase «value over the cycle»

Then again, in cyclical industries, it is always a question of value over the cycle.

Not exact matches

Estimates of prospective long - term returns for the S&P 500 reflect our standard valuation methodology, focusing on the relationship between current market prices and earnings, dividends and other fundamentals, adjusted for variability over the economic cycle (see for example Investment, Speculation, Valuation, and Tinker Bell, The Likely Range of Market Returns in the Coming Decade and Valuing the S&P 500 Using Forward Operating Earnings).

We forget that the most popular large - cap speculative leaders at the 2000 peak lost 92 % of their value over the completion of the cycle.

We adhere to a conservative, value - oriented investment approach that has yielded attractive results over a variety of market cycles.

Over the full cycle, the market recognizes reasonably - valued stocks that throw off a reliable stream of cash to shareholders (especially those that exhibit enough investor sponsorship so that future cash flows aren't called into question on the basis of others» information).

In short, an informed view of market history easily admits the likelihood that the S&P 500 will lose half of its value over the completion of the present cycle.

Investment managers attempt to outperform the market by predicting market activity, and can add value to portfolios by anticipating market cycles and continuously changing asset allocation over time.

The Balanced Asset Class Index which included large caps, small caps, value stocks and bonds fared much better than the all - stock options and outperformed the other options over the full cycle 4 out of 5 times.

The Fund will attempt to produce a total return in excess of the return of the S&P 500 Index, and secondarily, the Russell 1000 Value Index over a full market cycle.

Looking back through history, whenever value stocks have gotten this cheap, subsequent long - term returns have generally been strong.3 From current depressed valuation levels, value stocks have in the past, on average, doubled over the next five years.4 Not that we necessarily expect returns of this magnitude this time around, but based on the data and our six decades of experience investing through various market cycles, we believe the current risk / reward proposition is heavily skewed in favor of long - term value investors.

And, because you can not tell what the market is going to do, a value investment discipline is important because it is the only approach that produces consistently good investment results over a complete market cycle» Seth Klarman

I expect the S&P 500 to lose approximately two - thirds of its value over the completion of this cycle.

A month ago, I noted that prevailing valuation extremes implied negative total returns for the S&P 500 on 10 - 12 year horizon, and losses on the order of two - thirds of the market's value over the completion of the current market cycle.

Considered a pilot for other Olympic sports, the plan called for the cycling union to record the results of riders» blood tests over time and track the changes of several key values, including hematocrit and reticulocyte levels.

It may be pertinent to mention that the book value of the power plant which is currently estimated at USD 325 million after five (5) years, with a life cycle of around 15 -20 years, will be handed over to the Government as a debt free asset which can be used to leverage and raise financing as a collateral or else the Government may choose to sell the operating asset to any investor who may not like to take any development risk, hence the plant being operational and in its best conditions.

The decision criteria should adopt a whole life value for money approach considering costs, benefits and risks over the life cycle of buildings assets.

This portfolio is made up of companies that have consistently demonstrated the ability to increase sales and earnings, and improve their cash flow and book values over multiple economic cycles.

A: In the coming weeks I will share the history of small cap value returns over many different market cycles.

volatility could fall after the first short option expires, lowering the time value of your LEAP as well as future short - term options you would want to sell, making it harder (or impossible) to achieve your profit goal over several option cycles

Because of the relative attractiveness of our portfolio, as highlighted on the following page, and the context of how value and growth investing cycles have worked over time, we expect to deliver attractive long - term results to Euclidean's investors.

He would study how earnings and asset values fluctuated over various cycles.

For investors seeking long - term investment returns in value - focused stocks over the complete investment cycle (bull and bear markets combined), with added emphasis on reducing exposure to general market fluctuations in conditions viewed by the Advisor as unfavorable to stocks.

But the reward for patience and discipline can be substantial because, as we've seen time and time again, value stocks tend to outperform over long - term, full market cycles.

Different factors outperform at different stages of the market cycle, so diversifying across factors, with an emphasis on quality and value, can lead to stronger, more consistent risk - adjusted returns over the long - term.

QEP International Value targets gross returns of +3 % above international indices such as the MSCI ACWI ex US ** over the full economic cycle.

Studies quarterly and annual reports, looking for companies that have demonstrated the ability to grow sales, earnings, cash flows and book values consistently over multiple economic cycles.

For this reason, and in the context of how value and growth investing cycles have worked over time, we expect to deliver attractive long - term results to Euclidean's investors.

We forget that the most popular large - cap speculative leaders at the 2000 peak lost 92 % of their value over the completion of the cycle.

I noted back in 2007, during a similar period of frustration, that less than half of the typical bull market gain is retained by the end of the subsequent bear market - «Once stocks become richly valued, the remaining gains achieved by the market are almost always purely speculative - they are generally erased over the remaining course of the market cycle.

the European periphery is a bubble («The Euro crisis is not over... the European economies are not going to change for the better for years to come despite all the cheating and breaking of laws»), Value investors need to venture to Russia («when you look at today's opportunity set, you're left with a set of assets where nothing looks attractive from a valuation point of view») or buy gold mining stocks -LRB-» The down cycle could be much bigger than anybody believes if the market realizes that all the actions taken in recent years do not work.»)

They are looking for companies that they believe are «reasonably priced, and have strong fundamental business characteristics, sustainable earnings growth and the ability to outperform peers over a full market cycle and sustain the value of their securities in a market downturn, while [trying to] avoid investments in companies that it believes have low profit margins or unwarranted leverage, and companies that it believes are particularly cyclical, unpredictable or susceptible to rapid earnings declines.»

Again, the reason that the (Investment — Foreign Savings) term adds little variation to profits over the business cycle is that variations in gross domestic investment as a share of GDP are tightly and inversely correlated with variations in the current account deficit (a chart is presented in Taking Distortion at Face Value).

These bonds are bought by investors on the open market for less than their face value, and the company uses the cash it raises for whatever purpose it wants, before paying off the bondholders at term's end (usually by paying each bond at face value using money from a new package of bonds, in effect «rolling over» the debt to the next cycle, similar to you carrying a balance on your credit card).

This approach generally has been vindicated in the past, as value investors tended to outperform a majority of money managers over full market cycles; and this outperformance has been achieved principally during bear markets, by losing less than most.

I don't particularly like these business models, as they tend to produce mediocre returns on capital over the full cycle, but occasionally they do offer opportunities to buy them well below their net asset values.

Style - neutral framework including both value and growth investments can help lessen exposure to the value / growth cycle over time.

Assets must be selected that will grow their value including dividend payments over a reasonable time horizon, corresponding to a market cycle or so (4 - 8 years).

Through practical experience, Brandywine has determined that value - style investing — whether in equity or fixed income markets, in the US or internationally — can provide excellent risk - adjusted returns over full investment cycles, and it is a particularly important strategy in today's global markets.

Baird Equity Asset Management's Small / Mid Cap Value portfolio invests in small - to medium - cap U.S. companies and seeks to provide superior risk - adjusted returns and consistently outperform the benchmark Russell 2500 Value Index over a full market cycle (typically 3 — 5 years).

Under his leadership, Heartland's Value Fund has been noted by Forbes as having «done well... in both bear and bull markets over two market cycles.»

A linear regression fit to your smoothed data in the graph sampled every 3 years or so gives a downward trend with a value of about 7 % of the size of a solar cycle over the 40 - year span observed.

This graphic suggests the following changes in OHC 0 - 2000m over the various time periods of the proposed BNO (S) cycle, with the final 5 years - to - 2014 values taken from Levitus 0 - 2000m.

So the 3.7 W m - 2 calculation for global radiative forcing could be refined perhaps by an improved experimental design (not necessarily by improved radiative transfer models) running RT models at each grid cell over the globe, over the diurnal cycle and the annual cycle for say 30 years, for the two different CO2 concentrations, such a detailed calculation would refine the 3.7 value.

These values were used to produce a comprehensive net present value for the standard based on the full national impact over the lifetime of units affected, including monetized full fuel cycle emissions impacts.

A model of the Earth's carbon cycle over the past 570 Myr suggests that, compared to its present value, the partial pressure of CO2 (Pco2) may have been an order of magnitude higher in the early Palaeozoic, and about 4 — 6 times higher in the middle Mesozoic1, 2.

After privatization, after the Market has exercised the genius of its democracy, and waste is squeezed out, and there is a knowable price level and we can see clearly how much people value the carbon cycle, then maybe there might be a reason for experts and partisans to quibble over how to change the world.

So is there an excess value for DLR over L at the tropics when one considers the diurnal cycle and as one moves away from the tropics, the seasonal cycle?

Seasonal cycle Δαs / ΔTs values are the difference between 20th - century mean April and May αs averaged over Northern Hemisphere continents divided by the difference between April and May Ts averaged over the same area and time period.

EUV values vary by 30 - 100 % across the range over the solar cycle, and have the most potential to modulate atmospheric chemistry, size and temperature.

Actually, by the time you approach 200ppmv for CO2, you have already reached the break point in the curve, beyond which additional CO2 has much less impact on the RF — and this is close to the glacial value — suggesting that CO2 changes do not drive the glacial cycles (CO2 changes are supposed to amplify T rise during deglaciation, but there is scant evidence for this and the assumption that it did also underlay the IPCC belief — and a great many references in academic papers give a T degrees C per ppmv CO2 without stating over which range of concentrations this is meant to apply.