May 25, 2014

Take a Vacation

I look forward to Leuthold’s Green Book every month.  This month they had a chart that reflected a similar study we published years ago on combining the presidential cycle and the 6 month cycle. The next six months starting in […]
May 23, 2014

% of Stocks w/ Trailing LTM PE < 13X Russell 3000

Steve Romick is a fellow Angeleno, and if you don’t read his commentary you should.  Below are two charts and some commentary form his recent letter. Charts then downloads: —- “Suffice to say we aren’t seeing much in the way […]
May 15, 2014

Dividend and Buyback FAQ

Nice piece from Credit Suisse and Mauboussin on what companies do with their money. Quotes then downloads: —- -Corporate cash balances are building because Corporate America’s return on investment is high and its reinvestment rate is modest. The issue of disbursing cash […]
May 1, 2014

Value Line MAP

It has been a little quiet lately but the good news is I have some great reads on the way, including one of my favorite newish newsletters below.  The Macro Trader looks at another valuation metric from Value Line and […]
April 2, 2014


Thanks to a reader for noticing the sector dates were incorrect.  Updated below. Also note that I excluded frontier markets in this update.  For some reason many of the series were not updated at our data vendor, and rather than […]
April 2, 2014

CAPE Updates

CAPE Updates, Sectors then Countries: Country Start Date Latest Date Latest Financials 3/31/93 3/31/13  10.69 Energy 3/31/93 3/31/13  15.04 Utilities 3/31/93 3/31/13  16.47 Telecom 3/31/93 3/31/13  18.68 Materials 3/31/93 3/31/13  18.93 Industrials 3/31/93 3/31/13  19.22 Healthcare 3/31/93 3/31/13  19.82 ConsStpls […]
February 27, 2014

A Favorite Combo

Combining two of my favorites – Montier and the CAPE ratio.  And I’m not just saying that since I have a chart in there! I’m excluding a figure due to internet issues… Download PDF CAPE Crusaders Link
January 2, 2014

CAPE Updates

Below are CAPE updates along with two other charts detailing a) how CAPE did in 2013 and b) the average and median value across the database…
December 29, 2013

A Big Inefficiency

Fun issue from Grant’s on the disconnect between Korean common and preferred shares. Chart then download: —- —- PDF Download Grant’s XMAS Website
December 22, 2013

Absolute Charts – Low Vol Edition

A few great charts in this very worthy read from Niels Jensen.  Below is a chart on a topic that is very timely, namely how flows can distort factor investing. —- —- Download PDF here Squeaky Bum Time Website
December 15, 2013

US Inflation and the Returns in Global Stock and Bond Markets

Dimensional Funds is known for their work in multifactor stock strategies.  Below is a simple piece examining long term returns and inflation. Table then download: —- —- Download PDF here: US Inflation and Returns Website:
December 9, 2013

A Very Important Yield Chart

I think this chart is hugely important for yield investors.  Great work as always from OSAM: Chart then download —- —- Download PDF here: The Myth of the Most Efficient Market Website:
November 18, 2013

Traders Guide to Markets

I’ve gotten behind a bit on some of the pieces I wanted to send out, so here are four, no charts just downloads…: Traders Guide to the Markets – Convergex Sortino a Sharper Ratio – Red Rock Capital and two white papers […]
November 12, 2013

All the Valuation Indicators

Blame it on Bernanke or low interest rates, but all of the valuation indicators are saying the same thing according to Doug Short: Quick chart then download: —- —- Link to Article Valuations Website
November 10, 2013

Housing Stocks in 2014?

McClellan has a great chart in his weekly column examining lumber as a leading indicator for housing stocks: “Housing industry stocks as a group appear poised to start a strong pop up into early 2014.  That’s the message from looking […]