4 Dec 2017

The Crazy Thing? Stocks Could Go Much Higher

Long time readers know that I’ve been cautious on US stocks for some time, calling them overvalued in 2014. Last year, I referred to a quote from Sir John Templeton, who famously said that ‘Bull markets are born on pessimism, grow on skepticism, mature on optimism and die in euphoria.’ I said then that I could see the rally continuing on for years but that we were probably moving from… Read More

5 Sep 2017

New and Improved: The Shiller PE Ratio

Longtime Daily Insights readers are no strangers to the Shiller PE-ratio, a valuation metric that uses ten years of inflation-adjusted earnings to evaluate the cheapness or richness of the stock market – a search of the term on our website yields more than a dozen results. I’m very proud to say that our understanding of the Shiller PE is now greatly expanded, thanks to our own┬áRyan Craft. In the past,… Read More