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12-20-2013, 10:35 PM
Market valuation and corporate earnings
Today’s commentary
Markets have failed to correct 15 or even 10% for a record period of time during this cyclical bull market. Given the stretched valuations, this makes the market vulnerable to a pullback. What are the types of events which could precipitate such a pullback? Would this pullback presage a new bear market and recession? Thoughts below
I am going to keep this piece short given the last piece by Niels Jensen on valuation. I think Niels makes a very good case for seeing the US market as overvalued relative to other markets and for seeing the market as rich but **t in a bubble.
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Market valuation and corporate earnings (http://www.creditwritedowns.com/2013/12/market-valuation-corporate-earnings.html) originally appeared on Credit Writedowns (http://www.creditwritedowns.com)
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Related posts:
Corporate profits: In the long run, valuation means everything (http://www.creditwritedowns.com/2013/09/corporate-profits-in-the-long-run-valuation-means-everything.html)
Frantically revising Japanese corporate earnings projections (http://www.creditwritedowns.com/2013/05/frantically-revising-japanese-corporate-earnings-projections.html)
The US market’s advance is predicated on multiple expansion (http://www.creditwritedowns.com/2013/08/the-us-markets-advance-is-predicated-on-multiple-expansion.html)
Today’s commentary
Markets have failed to correct 15 or even 10% for a record period of time during this cyclical bull market. Given the stretched valuations, this makes the market vulnerable to a pullback. What are the types of events which could precipitate such a pullback? Would this pullback presage a new bear market and recession? Thoughts below
I am going to keep this piece short given the last piece by Niels Jensen on valuation. I think Niels makes a very good case for seeing the US market as overvalued relative to other markets and for seeing the market as rich but **t in a bubble.
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More About: Commentary (http://www.creditwritedowns.com/category/commentary/), equities (http://www.creditwritedowns.com/tag/equities/), global (http://www.creditwritedowns.com/tag/global/), investing (http://www.creditwritedowns.com/tag/investing/), multiple expansion (http://www.creditwritedowns.com/tag/multiple-expansion/), United States (http://www.creditwritedowns.com/tag/united-states/), weekly (http://www.creditwritedowns.com/tag/weekly-2/)
The most in-depth research and analysis is on Credit Writedowns Pro (https://www.creditwritedowns.com/members/).
Market valuation and corporate earnings (http://www.creditwritedowns.com/2013/12/market-valuation-corporate-earnings.html) originally appeared on Credit Writedowns (http://www.creditwritedowns.com)
Links: RSS (https://www.creditwritedowns.com/feed) - Daily (http://eepurl.com/hfF3U) - Weekly (http://eepurl.com/eklTA) - Twitter (http://twitter.com/edwardnh) - Facebook (http://www.facebook.com/creditwritedowns) - Contact (https://www.creditwritedowns.com/contact)
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1
Related posts:
Corporate profits: In the long run, valuation means everything (http://www.creditwritedowns.com/2013/09/corporate-profits-in-the-long-run-valuation-means-everything.html)
Frantically revising Japanese corporate earnings projections (http://www.creditwritedowns.com/2013/05/frantically-revising-japanese-corporate-earnings-projections.html)
The US market’s advance is predicated on multiple expansion (http://www.creditwritedowns.com/2013/08/the-us-markets-advance-is-predicated-on-multiple-expansion.html)