Crimi
Crimi Articles
The three major indexes finished down in 2000, but that doesn't tell the whole story. The most interesting aspect of the year was the constant flow of money back and forth between "old economy" and "new economy" stocks. In the end, the...
Aggregate stock prices remain about twice as high as their long-term average based on PE ratios, replacement costs, and other traditional methods of valuation. However, in recent quarters a series of corrections within specific industries...
For the first time in several years the two tiered nature of the market is opening a wider choice of investment opportunities for long-term value investors. Prices for technology and other "new era" companies continue to rally to more...
The 4th quarter market action was simply amazing. Despite some of the most aggressive valuations in financial history the popular high-tech stocks and indices rose in breathtaking fashion. It's hard to know what to make of something like...
1998 was another banner year for equity investors. The major indices finished the year close to their all time highs and double-digit gains were again the norm. It's hard to believe that the blue chips could achieve such large gains from...
Aggregate "blue chip" stock prices remain significantly above the long term average. The current trailing PE for the S&P500 is 35 times earnings. This is equivalent to an earnings yield of about 2.9% and compares to 6.16% and 6.04% for...
Before the 1990s boom in equity prices, a 3% dividend yield was considered a harbinger of a market top. The long term average yield is over 4%. No doubt the current yield of 1.2% is a reflection of changes in corporate governance as well...
This month I'd like to present another way of looking at aggregate market levels besides the traditional PE ratios, price/book value, price/sales ratio, dividend yields and the other more commonly used approaches.
The stock market action over the last month was typical for the season. We started off with the usual sharp January rally, it fizzled a bit and then finished on a positive note. The one thing you couldn't help notice was the numerous stock...
