Tag Archives: Robert Shiller

CAPE Update (Or, was Last Week’s 5.6% Market Pop Justified?)

Posted on July 5, 2011 by Ray Galkowski, CFA

As of July 1, 2011, the Cyclically Adjusted PE (CAPE) ratio for the S&P 500 is 23.13, which essentially means the average share of common stock in the S&P 500 companies trades for 23.13 times its annual earnings averaged over … Continue reading →

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Another Disconnect w/r/t the Market

Posted on June 27, 2011 by Ray Galkowski, CFA

Narrowly focused company analysts are raising performance expectations for the businesses they follow while broadly focused market strategists and economists are lowering their estimates for market performance. One group is going to be wrong. David Dreman and many other value … Continue reading →

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Greenblatt’s Book, Calandro’s Suggestions, and the CAPE

Posted on May 14, 2011 by Ray Galkowski, CFA

I am sorry for the dearth of posting. Between tax season and attending the CFA Institute’s  Annual Conference in Edinburgh, I had little time. A review of Greenblatt’s book can be found here: http://post.nyssa.org/nyssa-news/2011/05/book-review-the-big-secret-for-the-small-investor.html Also on the Post, an interesting … Continue reading →

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Tobin’s Q Ratio and the Shiller, Graham, & Dodd Price-to-Trailing 10-Year Earnings Ratio

Posted on March 8, 2011 by Ray Galkowski, CFA

Both ratios show that conditions in the US stock market are getting frothy.    Shiller’s ratio is the same as the one created by Benjamin Graham and David Dodd in 1934. It is self-explanatory. If we ignore the outrageous peak in the … Continue reading →

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