capevalue
ValueWalk
Stock investors are emotional. Not a little bit. A lot. Today’s CAPE value is 30. The CAPE value could never reach 30 if stock investors were not crazy emotional creatures. The fair-value CAPE level is 17. So stocks are today priced at nearly two times their real value. It’s hard to let in how much harm we have done to ourselves by permitting the CAPE value to rise so high. Not by making a rational choice to do so. By following our emotions where they led us. Q2 2022 hedge fund letters, conferences and more Keeping Emotions Under ControlKeeping our emotions (and thus stock prices) under contro...
ValueWalk
A recent article at the Of Dollars and Data site argued that No, This Isn’t a Repeat of the Dot.com Bubble. The idea is that investors should not be too alarmed by today’s high stock valuations. I disagree. I thought that it might be helpful for me to respond to a number of points made in the anti-alarm case by showing how alarm really is justified.Q2 2020 hedge fund letters, conferences and moreMarket Bubbles Only Reveal Themselves After BurstingThe article states that: “One of the hallmarks of market bubbles is that no one can see them coming until after they burst” Otherwise, everyone would...
ValueWalk
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