The Big Picture

SEPTEMBER 25, 2024

Barry Ritholtz : So we’ve talked about 66-82, 2000-2013, equities did poorly. How should investors think about equities when valuations are a little elevated? And, owning the market cheaply, you can do that now much more than ever before, which is one of the reasons why you could pay more for the market than you did historically.

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The Irrelevant Investor

AUGUST 5, 2018

Whether you measure it from the low in 2009 or when new highs were made in 2013, isn't this just semantics? Bull markets are in the eye of the beholder, and when we mark the beginning is of little importance, unlike things like earnings and valuation and interest rates. The Netflix of fitness has a $4 billion valuation.

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The Irrelevant Investor

MARCH 28, 2021

You wouldn't find them trading with valuations sported by some of the high-flying tech companies. But other than that, the distance from a 52-week high seems to be completely random as far as valuation goes. The last time you saw a reading this high was 2013. Pull up a chart of Lennar, or CSX, or CAT, or AA. Yes, that Alcoa.

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Truemind Capital

FEBRUARY 8, 2024

India faced a sharp currency depreciation in 2013 and RBI had to take some drastic measures to arrest the decline. However, investment opportunities in companies/sectors that benefit from exports need to also account for valuations for generating decent returns in the medium to long term.

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Validea

OCTOBER 5, 2022

Two weeks ago, I wrote an article where I looked at the valuation of the median stock and how it has changed over time. 12/31/2013 2.9% 12/31/2013 42.8% By Jack Forehand, CFA, CFP® ( @practicalquant ) —. Year End Date Negative Earner Percentage 12/30/2005 1.1% 12/29/2006 1.2% 12/31/2007 1.0% 12/31/2008 2.1% 12/31/2009 4.9%

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The Irrelevant Investor

JANUARY 5, 2021

2012- Jeremy Grantham Warns 2013 Will Be A Dangerous Year For Stocks 2013- Much of everything else is once again brutally overpriced 2014- Big stock bubble will end badly in 2016 2015- GMO founder Grantham says markets ‘ripe for major decline’ in 2016 Okay, you get the point. It's been over four years since he wrote this.

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Brown Advisory

MARCH 1, 2016

Less than two years later, Palo Alto Networks purchased the company for $200 million—a more than 25-fold surge in valuation. In November 2015, Square, a San Francisco-based creator of mobile payment technology, went public at $9 per share and immediately rocketed 45% to a valuation of more than $4 billion. million pre-money valuation.

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Trade Brains

SEPTEMBER 17, 2024

While investing in unlisted shares involves higher risks due to limited liquidity and transparency, they often provide more stable valuations. Additionally, we examine the impact of market trends, regulatory changes, and upcoming IPOs on these companies valuations and growth prospects. to ₹4179 Cr in FY23. P/B Ratio 12.8 EPS 169.82

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Carson Wealth

OCTOBER 7, 2024

Hiring also seems to have pulled back a lot, with the Job Openings and Labor Turnover Survey (JOLTS) telling us that the hiring rate (hires as a percent of the labor force) has pulled back to 3.3% — a rate we last saw in 2013 (excluding the peak pandemic months in 2020). Since the end of 2019, the S&P 500 is up 92%.

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Brown Advisory

OCTOBER 28, 2016

While the factors above have buoyed dividend-rich stocks this year, such stocks now pose a rising risk in portfolios for several reasons: Their valuations have stretched beyond what is justified by the fundamentals in many cases. Cause for Caution: Why Dividend-Rich Stocks Pose A Greater Risk Stretched Valuations. Passive Inflows.

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Brown Advisory

OCTOBER 28, 2016

While the factors above have buoyed dividend-rich stocks this year, such stocks now pose a rising risk in portfolios for several reasons: Their valuations have stretched beyond what is justified by the fundamentals in many cases. Stretched Valuations. In 2013, as the Fed ended its bond-purchasing program, U.S. Passive Inflows.

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Brown Advisory

AUGUST 1, 2018

We tend to be strategic rather than tactical in our approach to investing, but a combination of recent fundamental developments and valuation changes has caused us to add a note of caution in conversations with clients and in the management of their portfolios. Concentration: Much of the U.S. Exhibit 2: U.S. Aggregate.

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Brown Advisory

AUGUST 1, 2018

We tend to be strategic rather than tactical in our approach to investing, but a combination of recent fundamental developments and valuation changes has caused us to add a note of caution in conversations with clients and in the management of their portfolios. Bond Returns Since 2013. Annualized Returns, 04/30/2013-06/30/2018.

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The Irrelevant Investor

JANUARY 3, 2022

If we zoomed out to the top in 2000, then the S&P 500 went sideways for 14 years, and the bull market breakout didn't happen until 2013. I mean, given recent returns and where valuations and interest rates are, things can't possibly get any better, can they? But that's impossible, right?

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Trade Brains

JANUARY 16, 2024

Although the Company was predominantly an Air Conditioner manufacturer in 2013, it ventured into manufacturing Small Domestic Appliances (SDA) for Companies like Bajaj Electricals, Usha Electricals, and others. These listed companies trade at a median valuation of 66.8x At the higher end of the price band of Rs.

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Truemind Capital

JANUARY 16, 2024

Some of the fund managers continued discouraging flows in Mid & Small Cap stocks by either sounding cautious, dropping coverage, or stopping the inflows owing to frothy valuations in the space. As per the report by Jefferies, the average residential property price across the top 7 cities saw a CAGR of meagre 2% from 2013 to 2021.

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The Irrelevant Investor

NOVEMBER 20, 2018

Interestingly, this strategy kept pace with buy and hold from 1926 all the way to 2013. But the idea that you can use valuations as a way to time the market is probably not going to work for most people most of the time. But it would have you in bonds for the last 63 months, missing out on an 82% gain for the S&P 500.

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The Irrelevant Investor

NOVEMBER 5, 2018

Stocks on the 52-week low list often appear attractive based on blunt valuation ratios, but in investing, sometimes you get what you pay for. He has an infectious personality and I remember saying to Barry after I first met him in 2013. Holy s**t that guy's awesome."

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Validea

APRIL 1, 2024

For example, a paper by Robert Novy-Marx found that a quality metric combining profitability, growth, safety and payout (the four main pillars of quality investing) would have outperformed the market by over 4% annually from 1963-2013. So what exactly constitutes a “high quality” company? Incorporating some element of value (e.g.

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Brown Advisory

JANUARY 4, 2016

In 2013, she applied it to the small number of privately held companies with a market value over $1 billion to denote their rarity. Uber, arguably the best known, first became a unicorn in mid-2013, about the time Ms. Most have achieved their unicorn status rather recently, and in fact nearly all did so in just the past five years.

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Trade Brains

MARCH 29, 2024

GB/customer/month in 2013 to 21.0 Investors should carefully evaluate these strengths and weaknesses, as well as the company’s valuation and growth prospects, before making an informed decision regarding participation in the Bharti Hexacom IPO. This lowers operational expenses and allows more efficient use of capital investments.

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Trade Brains

OCTOBER 9, 2022

The company was founded in 2013 and today it is among the top five players globally in terms of the number of companies profiled offering data on private market companies across sectors and geographies.

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ClearMoney

DECEMBER 5, 2021

Gox, a Tokyo-based bitcoin exchange launched in 2010, was at one time the world’s largest bitcoin intermediary, handling over one million accounts in 239 countries and more than 90% of global bitcoin transactions in 2013.

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Truemind Capital

OCTOBER 18, 2024

The popular ‘September Effect’ failed to materialize this year as the S&P 500 advanced 2% to clench its best September since 2013. While hitting all-time highs can be viewed as a positive, we have to be mindful if it is coming from unsupported valuations. The enthusiasm was of course born from the US rate cut decision.

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Good Financial Cents

DECEMBER 14, 2022

Some people find investment banking, controllers, tax managers, and valuation analysts to be the most challenging, while others find corporate finance more difficult. Monster.com Workforce Talent Survey – Finance and Accounting (2013, June 25). There is no easy answer when it comes to the hardest finance job.

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Brown Advisory

MARCH 24, 2021

Quantity of cryptocurrencies 2013-2021 Source: Statista, CoinMarketCap. Survey period 2013 to 2021. Stocks with ultra-high valuations led that charge, as Tesla, Peloton, Pinduoduo and DocuSign all saw double-digit gains. Data published February 2021. mining), is a profoundly energy-intensive process. Catherine D.

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Brown Advisory

MARCH 24, 2021

Quantity of cryptocurrencies 2013-2021. Survey period 2013 to 2021. Stocks with ultra-high valuations led that charge, as Tesla, Peloton, Pinduoduo and DocuSign all saw double-digit gains. Put simply, the market is willing to project fantastically far into the future to find the cash that can validate nosebleed valuations.

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The Big Picture

NOVEMBER 21, 2023

It was about $170 million valuation. 00:59:32 [Speaker Changed] So, so in late 21, 20 22, valuations had gotten a touch frothy in, in both the public and the private markets. Prices are already back to what I would call like 2013 levels. And so like it, you know, because the cloud in 2012, 2013 was out of favor.

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Brown Advisory

SEPTEMBER 22, 2017

Moreover, they must understand that the correlation of traditional factors with performance outcomes (such as portfolio returns and volatility) is highly sensitive to market conditions and the exact time-periods reviewed (Podkaminer, 2013). 2013(1): 1-15. Oxford University Press. The Guardian. Available from [link]. Hoepner, A.

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Brown Advisory

SEPTEMBER 22, 2017

Moreover, they must understand that the correlation of traditional factors with performance outcomes (such as portfolio returns and volatility) is highly sensitive to market conditions and the exact time-periods reviewed (Podkaminer, 2013). 2013(1): 1-15. Broader Application and Paths for Future Research. Oxford University Press.

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Brown Advisory

JULY 1, 2015

Rising rates also have a direct, negative impact on bond prices, and they tend to constrain stock valuations. Period April 30, 2013, through April 30, 2015. That makes U.S. exports less competitive and reduces the profits of U.S. companies denominated in foreign currencies. SOURCE: BLOOMBERG. Implications for Stocks. In the U.S.

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Brown Advisory

JANUARY 1, 2023

Download it here > Dear Fellow Investors, If we had to sum up 2022 in one word it would be valuation. War, inflation, recession, deglobalisation, decoupling, strikes, crypto-crash and energy (crisis) all featured but for us the overriding focus for 2022 was valuation. which was greater than our -1.1% relative underperformance.

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James Hendries

FEBRUARY 27, 2023

In 2011 and again in 2013, Federal Reserve and Treasury officials developed a plan in case the debt ceiling wasn’t addressed in time. It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio.

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Brown Advisory

AUGUST 24, 2017

Note that funds launched after 2013 are still early in their investment periods; they are excluded from the chart, as their track records are not yet representative.) Those with more aggressive return goals can target development properties with little or no current cash flow, whose valuations depend primarily on prospective leasing activity.

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Brown Advisory

MAY 12, 2020

Valuation: Measuring and Managing the Value of Companies by McKinsey & Company (7th edition coming out soon) The Influential Mind: What the Brain Reveals About Our Power to Change Others by Tali Sharot Margin of Safety: Risk Averse Value Investing Strategies for the Thoughtful Investor by Seth A. 6th Edition, 2015.

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Brown Advisory

MAY 12, 2020

S&P 500® Index, ROIC, 2003-2013 Data based on a McKinsey & Company study, “Valuation: Measuring and Managing the Value of Companies”. Chart reproduced with permission from McKinsey & Company as featured in the book, “Valuation: Measuring and Managing the Value of Companies, University Edition.” 6th Edition, 2015.

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ClearMoney

NOVEMBER 4, 2021

Exhibit 4 shows marked inconsistency in valuation characteristics for the three largest US equity momentum funds during the value premium rally of late 2020 through early 2021. Gerard O’Reilly and Savina Rizova, “ Expected Profitability: A New Dimension of Expected Returns ” (white paper, Dimensional Fund Advisors, June 2013).

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