Equity investors are always looking for signs of the next recession. Recessions mean higher unemployment, lower spending, lower earnings and ultimately more defaults, all of which are bad news for […]
Here is a ‘surprise’ for you. The number of news stories stating that irrational exuberance is back on the stock markets is growing rapidly. In addition, irrational exuberance was mentioned […]
This week was all about oil prices. After a price collapse of over 30% since the middle of June, oil lost another 6% as OPEC decided not to cut production […]
This week was dominated by the ECB meeting on Thursday. While the ECB, again, refrained from changing its monetary policy, Draghi did seem to hint at some action in June, […]
Valuation-related measures are often lousy instruments for timing the market. But that doesn’t mean they can’t hold interesting information about equity market returns. In the chart below, I have plotted […]
