Tag Archives: PE ratios

Stocks Are Expensive, Offer Mediocre Risk / Reward

Posted on December 30, 2014 by tomdoerflinger

Using $124 S&P 500 EPS for 2015, the forward PE of the market is 16.8x, which seems reasonable compared to the 17.1x average PE since 1989. Unfortunately this comparison is misleading for two reasons:  The average since 1989 is inflated … Continue reading →

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Wall Street Strategists Are Disturbingly Bullish

Posted on September 8, 2014 by tomdoerflinger

Barron’s is out with its always interesting “back to school” early September survey of Wall Street strategists, hailing from both the buy side and sell side. Though the samples size of nine is a bit small (where are Deutsche, U … Continue reading →

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The Bianco Golden Ratio vs. Lew’s Inversion Perversion

Posted on July 24, 2014 by tomdoerflinger

Deutsche Bank’s ace stock market strategist David Bianco—a friend of mine and formerly a colleague—has devised a nifty new ratio to summarize the health of the U.S. economy. He calls it the Golden Ratio; I call it the Bianco Golden … Continue reading →

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