Wealth Management

OCTOBER 6, 2022

Thursday, October 27, 2022 | 4:00 PM ET

Wealth Management 189

Wealth Management Valuation Management 189

The Big Picture

NOVEMBER 5, 2022

His new book “ The Price of Time: The Real Story of Interest ” is a nominee for FT’s 2022 Business Book of the Year. We discuss Chancellor’s history as an analyst interested in speculative bubbles, which led him to write a research paper on valuations and why the dotcom bubble looks a lot like other historical bubbles.

Valuation 311

Valuation Economy Management Marketing 311

The Big Picture

DECEMBER 1, 2022

Investors need to recognize: The economy has thus far remained resilient; Corporate Profits have remained robust; Consumers are still spending; Households and corporate balance sheets are healthy; Valuations have become more attractive; Seasonal patterns are positive (see chart above via JC ). Groping for a Bottom (October 14, 2022).

Economy 295

Economy Economics Valuation Marketing 295

Abnormal Returns

JANUARY 27, 2023

awealthofcommonsense.com) 2022 shows that every portfolio strategy comes under pressure. nytimes.com) Companies Revisiting Tesla's ($TSLA) valuation, post-Twitter fiasco. wsj.com) Intel ($INTC) had a tough 2022 and 2023 isn't looking better. Strategy The investment landscape has completely transformed in the past century.

Financial Advising 245

Financial Advising Distribution Valuation Media 245

Abnormal Returns

JANUARY 20, 2023

ritholtz.com) India's stock market held up well in 2022. ft.com) Startups How unicorns are dealing with the decline in valuations. Markets What a 'breakaway momentum thrust' means for investors. wsj.com) Don't let your portfolio be driven by strategist forecasts. variety.com) Ad-supported streaming tiers have been slow to take off.

Investing 246

Investing Investments Startup Financial Advising 246

Validea

OCTOBER 19, 2022

Here are some lessons from 2022 that standout to me. Coming into 2022, the 60/40 stock/bond portfolio had been a stalwart strategy for your balanced investor. While some of that outperformance was due to improving fundamentals and earnings, most of it the returns came from the valuation investors assigned to these stocks.

Investing 128

Investing Investments Valuation Portfolio 128

Abnormal Returns

MAY 26, 2023

tomtunguz.com) Morgan Housel, "Companies should want the valuation they deserve, and not a penny more." labor force reached a record high in 2022. (awealthofcommonsense.com) When trading, it's okay to hit the reset button. allstarcharts.com) Companies In the past decade, Nvidia ($NVDA) stock has gone up some 250x.

Financial Advising 245

Financial Advising Valuation Retail Economy 245

Abnormal Returns

JUNE 27, 2023

bloomberg.com) SpaceX's valuation keeps rising, due in part to Starlink's success. morningstar.com) Economy Home prices peaked June 2022. (behaviouralinvestment.com) Do commodities have a role to play in a long-term, strategic asset allocation? axios.com) Finance The private equity crowd is finding mega-deals hard to come by.

Asset Allocation 243

Asset Allocation Financial Advising Startup Valuation 243

Abnormal Returns

JANUARY 9, 2023

(axios.com) Finance Private equity managers are abusing their discretion when it comes to valuations. raised about 1% of 2022 venture capital funding. institutionalinvestor.com) Goldman Sachs ($GS) is laying off thousands of workers this week. thinkadvisor.com) Black founders in the U.S.

Financial Advising 242

Financial Advising Valuation Media Economy 242

The Big Picture

APRIL 24, 2023

December 1, 2022) Secular vs. Cyclical Markets, 2022 (May 16, 2022) Bull Market Bull (March 31, 2021) Redefining Bull and Bear Markets (August 14, 2017) Are We in A Secular Bull Market? Note we have not even referencing the valuation debate. Previously : Observations to Start 2023 (January 3, 2023) Bottoming?

Economics 299

Economics Marketing Marketing Portfolio 299

Abnormal Returns

DECEMBER 26, 2022

rationalreminder.libsyn.com) The biz The DeVoe 2023 M&A report shows expectations for lower RIA valuations. riaintel.com) A national 401(k) plan is closer to reality than you think in the 'Retirement Savings for Americans Act of 2022.' (open.spotify.com) Cameron Passmore and Benjamin Felix talk with Prof. morningstar.com).

Risk Tolerance 241

Risk Tolerance Financial Planner Financial Advising Compliance 241

The Big Picture

FEBRUARY 7, 2024

Dividends come from earnings, and so those are sort of anchors to valuation. Jeremy Schwartz : And basically said that there’s huge Tech stocks, triple-digit PEs, you can never justify the valuations no matter what the growth rates are. Present value of future cash flows, any asset is present value of future cash flows.

Investing 296

Investing Investments Valuation Portfolio 296

Nerd's Eye View

JUNE 27, 2023

What's unique about Eric, though, is how, 10 years after launching his firm and enjoying strong and steady growth, he hit a capacity wall as a solo advisor and suddenly found the business going backwards, as a $4 million client decided to relocate, and market volatility caused several other clients to leave his firm (which meant a loss of $100,000 (..)

Financial Advisor 217

Financial Advisor Clients Valuation Communication 217

The Big Picture

APRIL 1, 2023

 This week, we speak with Ken Kencel, who is president and chief executive officer of Churchill Asset Management, a private credit firm with $46 billion in assets under management that was the top US private equity lender in the 2022 PitchBook league tables and was named 2022 Lender Firm of the Year by The M&A Advisor.

Assets 173

Assets Management Valuation Investing 173

The Big Picture

AUGUST 1, 2023

Did the palpable panic in June/October 2022 lead to ill-advised sell(s)? Private Credit : An unnamed person from the hedge fund industry pointed out that around the June 2022 lows, there were big redemptions from allocators who shifted capital away from hedge funds. The Crowd : Did the crowd’s YOLO enthusiasm infect you on the way up?

Economics 246

Economics Valuation Marketing Marketing 246

Financial Symmetry

FEBRUARY 20, 2025

Data from 12/31/2022 12/31/2024. This means that the expansion of valuation multiples, like price-to-earnings (P/E), has played a big role.2 For current valuations to be justified for the Mag 7 and large growth stocks more broadly, very large earnings growth will have to continue. Pay attention to valuations.

Marketing 64

Marketing Marketing Valuation Commission 64

Cornerstone Financial Advisory

OCTOBER 31, 2022

Source: Econoday, October 28, 2022 The Econoday economic calendar lists upcoming U.S. Source: Zacks, October 28, 2022 Companies mentioned are for informational purposes only. The Wall Street Journal, October 28, 2022. The Wall Street Journal, October 28, 2022. The Wall Street Journal, October 28, 2022.

Marketing 105

Marketing Marketing Economics Taxes 105

Trade Brains

OCTOBER 3, 2024

’s expansion, its potential future growth, and its sustainability, and whether the valuations are justified. Financial Overview Of Trent Financial Year Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Revenue (Crores) 3,485.00 Should you buy Trent despite having a high valuation? This article will examine Trent Ltd.’s

Valuation 98

Valuation Retail Food Marketing 98

Cornerstone Financial Advisory

AUGUST 1, 2022

Source: Econoday, July 29, 2022 The Econoday economic calendar lists upcoming U.S. Source: Zacks, July 29, 2022 Companies mentioned are for informational purposes only. The Wall Street Journal, July 29, 2022. The Wall Street Journal, July 29, 2022. The Wall Street Journal, July 29, 2022. CNBC, July 28, 2022.

Marketing 104

Marketing Marketing Taxes Economics 104

Advisor Perspectives

JANUARY 6, 2023

Our monthly market valuation updates have long had the same conclusion: US stock indexes are significantly overvalued, which suggests cautious expectations on investment returns. As of December 30, 2022, it was at 3.88%. On August 4, 2020, the 10-year Treasury yield hit its all-time low of 0.52%.

Valuation 52

Valuation Marketing Marketing Investing 52

The Big Picture

JUNE 20, 2024

She observes it is less about the things investors tend to focus on — “technical analysis, geopolitics, behavioral finance and even skirt hemline trends” — and more about specific measures she tracks in sentiment, valuation, macro-economic areas. The table above shows the major market peaks going back to 1990.

Marketing 195

Marketing Marketing Valuation Media 195

Carson Wealth

JULY 27, 2022

Valuations Could Move to a More Normal Range . The decline in the equity market pushed valuations down to levels in line with the period between 2015 and 2020. While uncertainty is a bigger challenge to markets, valuations could rise if other factors move in the right direction. . Q3 2022’s Five Big Risks.

Marketing 98

Marketing Marketing Valuation Economy 98

Validea

SEPTEMBER 21, 2022

It looks like the 2022 bear market might be with us longer than many of us had hoped. With the S&P 500 now close to 20% off its highs, I thought now might be a good time to look to our market valuation tool to see where things stand. Above average valuations typically lead to below average long-term future returns and vice versa.

Valuation 72

Valuation Marketing Marketing CFP 72

The Big Picture

JUNE 2, 2023

Fair Value : Valuation of equities is one of those things that seems to confuse so many. Earnings are a fact, analysts’ earnings estimates are an opinion. If a company’s earnings are above or below consensus, it was the analysts who got it wrong and not vice versa.

Numbers 312

Numbers Valuation Retirement Economics 312

Abnormal Returns

JANUARY 18, 2023

wsj.com) The periodic table of commodity returns for 2022. allstarcharts.com) Why 2022 was an unusually bad year for the 60/40 portfolio. institutionalinvestor.com) Startup valuations trended down in the second half of 2022. in December 2022. (tker.co) Commodities Why orange juice prices are soaring.

Financial Advising 130

Financial Advising Startup Wealth Management Valuation 130

James Hendries

AUGUST 3, 2022

Sentiment from corporate leaders that have reported so far has been cautious, as is to be expected, which has led to a reduction in the 2022 consensus estimate for S&P earnings per share by about 0.8% [Figure 3] since June quarter-end companies began reporting in mid-July. That forecast is still about $3 below the consensus estimate.

Marketing 98

Marketing Marketing Economy Valuation 98

Advisor Perspectives

FEBRUARY 2, 2023

Our monthly market valuation updates have long had the same conclusion: US stock indexes are significantly overvalued, which suggests cautious expectations on investment returns. On August 4, 2020, the 10-year Treasury yield hit its all-time low of 0.52%. As of January 31, 2023, it was at 3.52%

Valuation 52

Valuation Marketing Marketing Investing 52

Abnormal Returns

JULY 23, 2023

morningstar.com) Why stock market valuations are logically higher today than they were in the past. theatlantic.com) The 2023 stock market has been a mirror image of 2022. Top clicks this week How to get rich in the markets, ranked from hard to easy. ofdollarsanddata.com) Why compounding is still unheralded.

Valuation 130

Valuation Investing Investments Marketing 130

Mish Talk

DECEMBER 22, 2022

Cathie Wood’s Ark Open Source Model Predicts Tesla Shares Will Hit $4,600 by 2026 Please recall my April 18, 2022 post Cathie Wood’s Ark Open Source Model Predicts Tesla Shares Will Hit $4,600 by 2026 By 2030 ARK predicts a share price of about $22,500 equating to a market cap of roughly $22.5 US Real GDP in 2021 was $19.8

Marketing 210

Marketing Marketing Valuation Economics 210

Nerd's Eye View

JANUARY 3, 2024

Since the Fed started raising rates in March 2022, job growth has steadily slowed; continuing claims for unemployment hit a 2-year high; the average work week is getting shorter; and job openings, 'quit rates', and wage growth for job switchers have all been falling.

Economics 246

Economics Marketing Marketing Economy 246

Advisor Perspectives

DECEMBER 19, 2022

However, the outlook is more balanced given that equity valuations are much lower and bond yields much higher. The economic tea leaves suggest that 2023 could be another challenging year for both stocks and bonds.

Economics 80

Economics Valuation 80

Mish Talk

NOVEMBER 9, 2022

Valuation Plunge The 44 percent rally was due to the announcement of a deal with Binance. FTX 2022-11-09. Market Still Reeling From Collapse of FTX Yesterday I noted Crypto Crash Is Led by a Whopping 88 Percent Plunge in FTX Here is the chart I posted yesterday. Today's chart will follow. FTX chart courtesy of CoinDesk.

Valuation 306

Valuation Marketing Marketing Banking 306

Abnormal Returns

FEBRUARY 16, 2023

bloomberg.com) Bitcoin is at its highest level since June 2022. howardlindzon.com) Private assets Why private equity needs much better valuations. Markets The FTSE 100 Index has risen above 8,000 points for the first time ever. nytimes.com) AI requires a lot of semiconductors. pragcap.com) Fidelity is hiring!

Financial Advising 147

Financial Advising Engineering Valuation Retail 147

Advisor Perspectives

JANUARY 3, 2023

Quick take: Based on the December S&P 500 average of daily closes, the Crestmont P/E is 115% above its arithmetic mean and at the 97th percentile of this fourteen-plus-decade monthly metric.

Valuation 52

Valuation Marketing Marketing 52

James Hendries

AUGUST 23, 2022

It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 98

Marketing Marketing Sales Economy 98

Abnormal Returns

DECEMBER 15, 2022

theatlantic.com) In a bull market, no one argues about the valuation of private assets. Then 2022 happened. (nextbigideaclub.com) Longreads Derek Thompson, "The U.S. remains the world’s R&D factory, but when it comes to building, we are plainly going backwards." city-journal.org) The world has a concrete problem.

Manufacturing 130

Manufacturing Valuation Economy Assets 130

Mish Talk

DECEMBER 12, 2022

Chief Futurist On September 7, 2022, Cathie Wood’s Ark Investment Management named its first “ chief futurist ", Brett Winton. ARK is predicting the valuation of Tesla will exceed the entire US real GDP by the early 2030s. What a hoot. What About Tesla? Tesla TSLA weekly chart courtesy of StockCharts.Com, annotations by Mish.

Valuation 157

Valuation Communication Marketing Marketing 157