One of the most common questions I get asked is along the lines of, ‘what do you look at to figure out if the market will go down?’. We can’t say with certainty any month will be up or down. The main problem is timing. Let’s take a simple example. Stock market PEs peaked above […] Read the full article…
Stock market returns for US stocks, international developed stocks and emerging market stocks through November are all above 20%. Now is a good time to update our relative value analysis for various equity asset classes and US vs. international markets. In this review, I am going to introduce a new relative value analysis model that […] Read the full article…
For the year, the total return for the S&P 500 is up about 10%. We are close to record territory. Is the market overvalued? Is it time to make adjustments? To dig into these questions let’s look at a justified PE given the earnings growth model. I introduced the earnings growth model here. To answer […] Read the full article…
Larry Fink is Chairman and CEO of Blackrock, the world’s largest investment management company with over $5.4 trillion in assets including iShares ETF products. He spoke late last month at Morningstar’s Investment Conference and discussed a wide range of issues including the state of the US economy, the state of active and passive investing, and […] Read the full article…