November 3, 2013

Global Value Valuations

Alliance Bernstein is quickly becoming a must read for me. Quick chart then download: —- —- Link to Article Getting Back into Value Equities Website
October 14, 2013

The Worst Stock in the Market

I sat down for sushi with John Del Vecchio in Dallas this past week, and as always, it was an interesting conversation.  For those unfamiliar, John is a forensic accountant who worked for some of the most famous names in […]
October 7, 2013

Quant Summaries

It’s hard to keep up with all the academic literature out there.  I used to post summaries from AlphaLetters, some of the banks do research summaries, and CXO always does a good job. Below are two summaries from another source, […]
October 6, 2013

Reducing Turnover with Smart Beta

I saw an analysis a few months ago on rebalancing portfolios sorted on CAPE monthly, which really didn’t make a lot of sense to me.  Many long term valuation metrics need a little time to work out.  Brightman talks about […]
October 5, 2013

Sector and index CAPEs

Below is our quarterly CAPE update with sectors and indexes… —- S&P 500 24 EAFE & EEM both 15 —- Website
October 1, 2013

CAPE Updates

Below is our quarterly CAPE update with the frontier markets included. —- Country Latest Greece  3.48 Ireland  6.45 Argentina  6.54 Russia  6.94 Italy  7.78 Jordan  7.86 Austria  8.92 Pakistan  9.39 Hungary  9.52 Spain  9.52 CzechRepublic  9.88 Israel  10.04 Lebanon  10.09 […]
September 26, 2013

Market Cap to GDP for Global

One of Buffett’s favorite indicators is stock market cap to GDP.  Below, Minerd looks at the indicator for global countries relative to their history.  Not surprisingly, lots of cheap countries out there… —- —- Link to the Article MKT CAP […]
September 25, 2013

Does CAPE Work on Stocks?

My buds Wes Gray and Jack Vogel  just put out a killer new paper where they asked the above question.  The simple answer is “yes it does”. The more interesting answer is 1) there are other cyclically adjusted measures that […]
September 23, 2013

Trade Ideas

Once a month I send out an email to readers that have not yet subscribed to The Idea Farm with a recent newsletter. Below is a recent piece from Waverly Advisors.  More info on their shop below,  but institutional investors and sophisticated […]
September 23, 2013

Research Affiliates on CAPE

I read everything Research Affiliates puts out – and you know I can’t pass up something with a CAPE chart! Quick screenshot before the download: —- —- Link to the Article The Impact of Tapering Website
September 19, 2013


Lots of legendary investors follow spin-offs.  Attached is a whopping 400 page research piece from Spin-Off Research, a research boutique focused on corporate spin-offs.  It has been published since 1997, and subs are $24k aimed at the institutional set.  A […]
August 31, 2013

Frontier CAPE Values

We added about 15 new markets to the CAPE list so thought we would send out a new update, enjoy!
August 22, 2013

Around the World

I thought I traveled a lot, but after sitting down with Mark Yusko last week in Raleigh and hearing about his whirlwind schedule, I feel like a homebody in comparison. Below is the Morgan Creek Q2 2013 Market Review and […]
August 22, 2013

Around the World (Correct Link)

Corrected Link (But last year’s review is worth a look too!) Q2 2013 Market Review and Outlook Website Homepage
July 30, 2013

What Happens After Expected Inflation Drops?

Good piece from John West of Research Affiliates on what happens to inflation exposed assets after a big drop in inflation expectations… Here is a chart before the download: —- —- Download PDF 3-D Shoppers Website