tag:blogger.com,1999:blog-6616959642391988608.post2468381925861538690..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Equity valuation exercisesScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-6616959642391988608.post-36427584897104491032013-08-24T12:10:03.038-07:002013-08-24T12:10:03.038-07:00http://pragcap.com/the-shiller-cape-isnt-the-only-...http://pragcap.com/the-shiller-cape-isnt-the-only-metric-showing-a-severely-overvalued-market<br /><br />I see little value, nor few bargains, even q stocks are badly overpriced..Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73549027362363551562013-08-23T07:48:43.071-07:002013-08-23T07:48:43.071-07:00It's worth keeping in mind that if foreigners ...It's worth keeping in mind that if foreigners actually are net sellers of US financial assets (something we really don't know at this point despite these statistics), then the dollars they "take home" will have to be spent on US goods and services. This is how the balance of payments works. So it's not necessarily a bad thing that foreigners are selling US bonds. Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-8124002609479269112013-08-23T06:59:34.356-07:002013-08-23T06:59:34.356-07:00Ed Yardini August 20th:
"The US Treasury rel...<b>Ed Yardini</b> August 20th:<br /><br />"<b>The US Treasury released data last Thursday tracking international capital flows for the US through June. The outflows out of US securities was shocking.</b> Especially troubling was the amount of US Treasuries sold by foreigners. Their outflows exceeded those from US bond funds. Of course, some of the outflows from the bond funds could be Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-21694381236151313872013-08-21T18:56:15.996-07:002013-08-21T18:56:15.996-07:00Jean-Pierre, thanks! Jean-Pierre, thanks! Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72743311307133466872013-08-21T18:11:36.692-07:002013-08-21T18:11:36.692-07:00DJIA below 15k on taper fears...is the Fed the Ban...DJIA below 15k on taper fears...is the Fed the Bank of Japan?<br /><br />Call it the BoJ lite version.<br /><br />The PCE deflator at 1% and the Fed is tightening...Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-54079795187147250362013-08-21T07:58:59.029-07:002013-08-21T07:58:59.029-07:00Agreed...
A pleasure to read you Scott, as alway...Agreed... <br /><br />A pleasure to read you Scott, as always. In a world submerged by insignificant bloggers and pundits yours is one of the rare opinions I pay attention to. Don't comment much but never fail to read you. You've been a precious guide through the crisis. Many thanks...Jean-Pierre Deslandeshttps://www.blogger.com/profile/02089882925568071398noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-18564811743474129102013-08-21T07:52:52.415-07:002013-08-21T07:52:52.415-07:00When economists and governmental units are telling...When economists and governmental units are telling you this is a good time to invest your monies you are in grave danger.<br /><br />This is a phony recovery and it is in it's late stages and soon we will enjoy the recession of 2014 or 2015.<br /><br />All we need is NORMAL interest rates, NORMAL federal deficits and we shall experience a NORMAL recession. Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-75495285908579115552013-08-21T04:31:30.827-07:002013-08-21T04:31:30.827-07:00Jesus Christ, operating in the Economy of God, Eph...Jesus Christ, operating in the Economy of God, Ephesians, 1:10, has completed the corporate profit, global growth and trade, part of the Business Cycle, having fully expanded the world central banks’ monetary policies, and the potential of the speculative leverged investment community, to produce peak stock wealth, VT, peak nation investment, EFA, peak small nation invetment, IFSM, peak major theyenguyhttps://www.blogger.com/profile/08515095308836729043noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-4373738592833838882013-08-20T20:44:01.286-07:002013-08-20T20:44:01.286-07:00Thanks for the link, but I'm still perplexed. ...Thanks for the link, but I'm still perplexed. Shiller's earnings do not match at all what I get from Bloomberg. For example, his March '13 earnings are 14% less than Bloomberg's, and that appears to be repeated throughout the series, thus giving his PE10 an upward bias. Even the level of the S&P 500 index is different from Bloomberg's, though not hugely. Also, I note that Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-39443480772291383612013-08-20T18:40:35.180-07:002013-08-20T18:40:35.180-07:00Hi there, been following your blog for years and r...Hi there, been following your blog for years and really enjoy your commentary. Not sure if you've seen Shiller's data but he posts/updates it here:<br /><br />http://aida.econ.yale.edu/~shiller/data/ie_data.xlsJasonhttps://www.blogger.com/profile/04431707814371116083noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-87494138733607989442013-08-20T17:52:05.313-07:002013-08-20T17:52:05.313-07:00Very interesting.
Maybe stocks are undervalued---b...Very interesting.<br />Maybe stocks are undervalued---but with reason. Been a tough 14 years or so for owning stocks.<br />And with the Fed set to taper down...<br />The world's central banks still piously pontificating about inflation. <br /><br />Public agencies ever fight the last war, trumpeting an exalted mission stattement...caveat emptor.The central banks have a squeamish aversion toBenjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com