July 7, 2017

A Fair Value CAPE Approach

Food for thought. Chart then download… —- —- Link to Download Fair Value CAPE Approach https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2983860 Website https://investor.vanguard.com/
July 6, 2017

Global Valuations

Quarterly CAPE Ratio Updates! After a great year of performance in 2016, many cheap countries are continuing to outperform. Right to the stats! Median CAPE Ratio: 16.9 25% most expensive: 26 (U.S. in this bucket) 25% cheapest 10 Average of […]
June 30, 2017

EU CAPE

Some excellent charts from Robeco, including REIT yields and Europe vs US CAPE ratios…biggest spread since at least the 1980s… Charts then download… —- —- Link to Download Outlook Website https://www.robeco.com
June 22, 2017

Shiller on CAPEs

The question is, are Siegel and Shiller drinking Red Stripe beers on Slide 2? Chart then downloads… —- —- Link to Download Risk and Relative Values In Diversified Portfolios Website http://www.econ.yale.edu/~shiller/
June 15, 2017

CAPE Ratio Time Series

All sorts of quant goodness on the new RAFI asset allocation tool redesign…model portfolios, expected returns, currencies, CAPE ratios….you name it!  Clear about an hour and go play around… Charts and link: —- —- Link to Download Press Release Overview […]
May 22, 2017

Auto-forward

GMO on home bias, and valuations… Charts and download: —- —- Link to Download Home Bias Website https://www.gmo.com/
May 9, 2017

Sell in May? Oh Geez Don’t Bring That Up Again…

Fun little piece from Horizon, and I also included a Leuthold chart dating the to 1920s on the sell in May system with small caps… Charts and download: —- —- Link to Download 1st Quarter 2017 Commentary Website Homepage
April 7, 2017

Beauty Charts

Some really cool charts from Norbert at Star on CAPE ratio and lots of other interesting visualizations… —- —- Link to Download Slideshow Cool CAPE charts Germany Fundamentals Value and Growth Website http://www.starcapital.de/
April 3, 2017

Global Valuations

Quarterly CAPE Ratio Updates! After a great year of performance in 2016, many cheap countries are continuing to outperform. Right to the stats! Median CAPE Ratio: 16.5 25% most expensive: 25 (U.S. in this bucket) 25% cheapest 11 Average of […]
March 16, 2017

CAPE ratio and Target Date Decisions

Twofer from GMO. Chart then downloads: —- —- Link to Download The What-Why-When-How Guide to Owning Emerging Country Debt: 2017 Edition Target Date Decisions, Decisions…Getting the Biggest Bang for the Buck Website https://www.gmo.com/
February 17, 2017

Expected Returns

Nice piece from AQR on how they construct their capital market expected returns. Chart then download: —- —- Downloads Capital Market Assumptions for Major Asset Classes Website https://www.aqr.com/
January 3, 2017

CAP Updates CORRECTED

Quarterly CAPE Ratio Updates! After a great year of performance in 2016, the order for the countries has changed but most macro positioning remains the same.  So, despite the monster moves in Brazil and Russia > 50%, they’re still cheap. […]
December 18, 2016

Two from RA

You guys know I love the cheap global stocks…turns out Research Affiliates does too.  Love this chart! Also threw in a bonus piece on Systematic Global Macro… Chart then two downloads: —- —- Downloads The Emerging Markets Hat Trick: Time […]
November 26, 2016

Real Estate CAPE

Quick reminder to new subs:  If you send me a research piece that I end up using, I’ll refund your account with $100, just email me with “RESEARCH” in the subject line.  The below issue is from reader M.K…. A […]
November 4, 2016

CAP Updates Revisited

We’ve had a lot of new subscribers sign up in the past few weeks so I thought I would re-send this email from the end of September with global stock market valuations…E Quarterly CAPE Ratio Updates! Median CAPE Ratio: 25% […]