Silver as an investment

Category Archives: Financial ratios

Eric Peters: Today’s Opportunities Include Negative Convexity, Complexity, Illiquidity, Leverage, Or All The Above

From the latest Weekend Notes by Eric Peters, CIO of One River Asset Management Anecdote “What are the odds we come across an opportunity in the coming 4yrs to earn 20%?” the investor asked his team. “High,” they answered. “The odds are 100%,” he said, having seen this movie a few times. “So our cost […]

Get Out Now: SocGen Predicts Market Crash, Bear Market For The S&P

While the charade of sellside analysts releasing optimistic, and in the case of Barclays and Goldman “rationally exuberant”previews of the year ahead… … is a familiar, long-running tradition on Wall Street, rarely has the intellectual dishonesty and cognitive dissonance been quite so glaring: take Goldman, which while admitting that valuations have never been higher, and […]

Bogle, Buffett, Shiller & Tobin – Valuations Are Expensive

Authored by Lance Roberts via RealInvestmentAdvice.com, During my morning reading, I ran across a couple of very interesting articles that tied a common theme relating to the current risks in the financial markets. Via Zerohedge: 88-year-old investing icon John “Jack” Bogle, founder of the Vanguard Group, said: “The valuations of stocks are, by my standards, […]

Q3 Earnings Season Begins This Week: Here Are The 3 Things Goldman Clients Are Focusing On

It's that time in the quarter again: 3Q earnings season begins this week with Wall Street consensus expecting S&P 500 EPS growth of just 5% (3% ex-Energy), a sharp drop from the last two quarters (Q1 was+14% and Q2 +11%). According to Goldman's Davis Kostin, "solid economic activity coupled with a weak USD will support […]

Two Key Indicators Show The S&P 500 Becoming The New “Cash”

Authored by Daniel Nevins via FFWiley.com, Pension plan administrators do it. Their actuaries and consultants do it. Professional endowment and foundation investors do it. Financial advisors do it. Private investors may or may not do it, but they probably should. Do what? All of these folks already are or should be asking themselves the following […]

Exactly How Many Warnings Do You Need?

Authored by Lance Roberts via RealInvestmentAdvice.com, When I was growing up my father, probably much like yours, had pearls of wisdom that he would drop along the way. It wasn’t until much later in life that I learned that such knowledge did not come from books, but through experience. One of my favorite pieces of […]

Fed’s Kaplan Admits Stock Valuations Are Elevated, But He’s Not Worried For One Reason

There were two explicit warnings about stock market valuations in the latest Fed Minutes: first, the Fed warned that “vulnerabilities associated with asset valuation pressures had edged up from notable to elevated, as asset prices remained high or climbed further, risk spreads narrowed, and expected and actual volatility remained muted in a range of financial […]

“Why Does Extraordinarily Low Volatility Matter” Baupost Explains…

With elites increasingly sounding the alarm about the state of the stock market, and various market participants fearing the complacency is masking the fragility of the market's true character; it is no surprise that Baupost's recently named President and Head of Public Investments, Jim Mooney, has joined the chorus. While Mooney (and Klarman's) warning regarding […]

How Big Of A “Deleveraging” Are We Talking About?

Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, I discussed the issue of debt and why “people buy payments.” This article generated much discussion and several emails including the following. “You argue that rising debt levels lead to slower economic growth, but what if it is slower growth leading to rising debt levels?” This is […]

The Difference Between “Old” And “New” Retail? A Record 50x PE Turns

In the battle between “old” (bricks and mortar) and “new” (online) retail, few will survive although according to the market, the winner couldn’t be more clear. As BofA’s Savita Subramanian writes in her latest relative value cheat sheet report, “retailers compete for share of the total consumer wallet, and it is old news that online […]