In a recent interview, Dr. Robert Shiller justified "sky-high" stock prices by using a measure called the "Earnings CAPE yield" or ECY. To wit: "There has...
It's that time of year when Wall Street analysts started trotting out the predictions for earnings growth and stock market targets for the coming year. Unfortunately,...
In this issue of "Irrational Exuberance - The Bulls Remain In Control." Bullish Bias Continues The Disposition Of Risk And Control Portfolio Positioning Update MacroView: The...
During the past couple of weeks, I have discussed the rising levels of bullishness in the markets. We have pointed to indicators like extreme investor positioning,...
Recently, Ed Yardeni discussed his view of why another "Roaring 20's" may lie ahead. However, while I certainly can appreciate his always "bullish optimism," there is...
In this issue of "Sign, Sign, Everywhere A Sign. But Investors Disregard." Bullish Bias Continues Into December Sign, Sign, Everywhere A Sign Portfolio Positioning Update...
The rally in energy companies is likely premature. To understand why such may be the case, we have to review a bit of history. In 2013,...
Is the narrative all "priced in?" As discussed over the past couple of weeks, investors have gone "all in." With the markets now extremely extended, what...
Will a vaccine cure the 20-year "Widow-Maker" trade? In 1999, a media personality stated that "investing like Warren Buffett was like driving dad's old Pontiac." Of course,...
In this issue of "Market Risk Elevated Heading Into Distribution Season." Stuck Near All-Time Highs More Signs Of Market Risk Portfolio Positioning Update MacroView: A Vaccine...