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Fed Model

Nov 07 2013

Stock Values: Absolutely, Relatively

  • Nov 7, 2013

The severity of the market’s current overvaluation depends on one’s historical vantage point.

Jun 05 2007

Interest Rates And Stock Valuations: A Broken Linkage?

  • Jun 5, 2007

A look at the relationship between bond and stock yields as justification for today’s expectations of a continued bull market and for the current LBO craze. No evidence that Fed-type valuation models help forecast future market returns.

Jan 05 2003

View From The North Country

  • Jan 5, 2003

Valuation tools comparing stock earnings yields to bond yields (i.e. the Fed Valuation Model) are worthless. History shows they don’t perform very well at all.

Dec 05 2001

Irrational Exuberance Then & Now

  • Dec 5, 2001

Many investors have come to realize just how overvalued the stock market became in the late 1990s. Alan Greenspan may have been early with his comment about “irrational exuberance” in late 1996, but in hindsight his warning was warranted.