Skip to content

Relative P/E

Mar 10 2023

Small Caps: We’ve Seen This Setup B-Four

  • Mar 10, 2023

In mid-2020, we wrote that a new multi-year leadership cycle had probably begun. Technically, that belief hasn’t been disproven, but the extent of outperformance has been disappointing in the nearly three years since. 

Dec 07 2018

Low Vol For All Seasons?

  • Dec 7, 2018

The S&P 500 Low Volatility Index has performed so well for so long that the ETF based on the index has amassed more than $8 billion.

May 11 2018

Attention Shoppers: Contrarian Plays In Aisle 3

  • May 11, 2018

The 2017 run that pushed the nine-year bull market to all-time highs made it very difficult to find anything that looked cheap, and few choices that looked average. Even the Tech bubble of 1999 allowed investors to find moderately priced stocks among the mundane old-economy companies...

Oct 08 2013

Valuations & Future Returns

  • Oct 8, 2013

The U.S. market rates anywhere from mildly overvalued to very overvalued relative to other developed markets. Foreign markets might be the last remaining pocket of yield that isn’t overvalued.

Jun 05 2006

Health Care's Relative Value

  • Jun 5, 2006

It is well-known that valuations for U.S. large-caps have compressed dramatically since their late 1990s heydays, and among all large-caps the cheapest of the cheap may be the health care stocks. 

Oct 04 2000

Technology Sector Valuations: Where Are We Now?

  • Oct 4, 2000

Since February, valuations have plummeted 37%, about half way back to median levels. However, relative P/E ratios paint a different picture.

Sep 08 1998

Smaller Caps Could Now Be Less Vulnerable Than Larger Caps

  • Sep 8, 1998

Smaller can managers are expected to see better times ahead. We predict that the next bull market will be led by small cap stocks. Historically, small caps now look fairly priced.