ClearMoney

DECEMBER 14, 2021

Valuation theory helps us identify relevant factors by providing insights about differences in expected returns across stocks. 20591, National Bureau of Economic Research, October 2014). Relative price : Refers to a company’s price, or the market value of its equity, in relation to another measure of economic value, such as book value.

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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. Rather, they highlight the need for a framework that governs how one can efficiently use different signals about expected returns. Love It or Leave It.

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Brown Advisory

AUGUST 24, 2017

For one, real estate tends to move more in concert with the direction of the economy, while stock prices, for example, tend to move in advance of a change in economic fundamentals. All charts and economic and market forecasts presented herein are for illustrative purposes only. This lower correlation is driven by several factors.

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Brown Advisory

SEPTEMBER 22, 2017

ESG and the Stock-­Picker’s Dilemma achen Fri, 09/22/2017 - 12:58 One of the greatest challenges that public equities investors face to integrating environmental, social, and governance (ESG) data into their decision making is the lack of proof that real – not hypothetical – investment strategies can use ESG factors to enhance performance.

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Brown Advisory

SEPTEMBER 22, 2017

One of the greatest challenges that public equities investors face to integrating environmental, social, and governance (ESG) data into their decision making is the lack of proof that real – not hypothetical – investment strategies can use ESG factors to enhance performance. ESG and the Stock-­Picker’s Dilemma. Fri, 09/22/2017 - 12:58.

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James Hendries

MARCH 13, 2023

Recent economic data has pointed to continued growth—giving rise to the “no landing” narrative. However, the pressure on valuations from higher interest rates, which have made bonds attractive alternatives, led to the Committee’s recent decision to reduce the size of the overweight from 5 points to 3. equities.

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James Hendries

JANUARY 13, 2023

Lessons learned: Economic forecasts The Fed’s bark was as bad as its bite! economy to avoid recession, and support above-average valuations. The hit to valuations in the form of about 4 P/E points (21 to 17) translates into a roughly 20% drop in the S&P 500 Index. Here are some of our lessons learned from 2022.

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Marketing Marketing Valuation Asset Allocation 52

James Hendries

JANUARY 26, 2023

Easing inflation pressures and a stable job market with only modest additional tightening from the Fed are keys to limiting the severity of an economic downturn. The dotted grey line highlights the latest Summary of Economic Projections (SEP) from the Fed, which shows policymakers’ forecast for a fed funds rate of 5.1%

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Marketing Marketing Economy Economics 52

James Hendries

OCTOBER 18, 2022

The challenges are many, with intense cost pressures and slowing economic growth at the top of the list. These headwinds include slower economic growth, cost pressures amid high inflation, ongoing supply chain issues, geopolitical instability in Europe and Asia, and significant currency drag from a very strong U.S. Numerous Headwinds.

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Marketing Marketing Valuation Economics 52

James Hendries

JUNE 20, 2023

That’s not suggesting another 2008 is coming, but rather highlights how fast the economic environment can change. Along with the statement, the Committee updated the Summary of Economic Projections (SEP), which is arguably more important than the brief monetary policy statement.

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Marketing Marketing Economy Communication 52

James Hendries

OCTOBER 4, 2022

Given the country’s weak economy, due in large part to stringent zero-COVID-19 measures that have led to strict and prolonged lockdowns, coupled with a debt-laden property market, authorities in Beijing and throughout the Chinese provinces will need to focus on reviving the country’s economic underpinning. from an earlier forecast of 5%.

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Marketing Marketing Economy Economics 52

James Hendries

MARCH 6, 2023

Economic activity does not stop like an airplane eventually does, but rather the economy will settle into a steady state where growth is consistent with factors such as population and productivity. Perhaps that was not the first time market watchers used the term, but the conversations at the Economic Club of New York were prescient.

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Marketing Marketing Economy Economics 52

James Hendries

OCTOBER 11, 2022

The British pound had been weakening for some time amid a backdrop of dollar strength and a poor economic outlook as the U.K. s government debt, or gilts as they are known locally, with the yield on the 10-year gilt increasing 1% in just three days to its highest level since 2008, see Figure 1 again. financial system. Conclusion.

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Marketing Marketing Banking Government 52

James Hendries

JULY 3, 2023

While activity remains muted at best, expectations are focused on 2024, when there is a prevailing consensus that the Federal Reserve (Fed) will be finished with its rate hike campaign, and that economic conditions will be resilient enough to underpin a strong capital markets environment. With economic data continuing to suggest the U.S.

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Marketing Marketing Banking Valuation 52

James Hendries

AUGUST 15, 2022

Job gains were broad-based and especially prominent in sectors such as education, health care, and government. Market strategists and pundits make the relationship between recessions and the stock market seem binary, but each economic contraction is different and has different effects on earnings. is currently not in recession.

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Marketing Marketing Economy Valuation 52

James Hendries

OCTOBER 25, 2022

The National Bureau of Economic Research (NBER) is the official arbiter of U.S. business cycles, and they consider a wide range of economic indicators other than just the quarterly GDP metric. Depth refers to declining economic activity that is more than a relatively small change. The following paragraph explains one of them.

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Marketing Marketing Economics Economy 52

James Hendries

AUGUST 3, 2022

The official arbiter of business cycle dating is the National Bureau of Economic Research (NBER). The economy is still feeling the ripple effects from the government-induced shutdowns. had never before experienced the massive swings in economic activity during the 2020 pandemic, making even the current analysis more difficult.

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James Hendries

JUNE 26, 2023

With the broad market overbought in the short-term from a technical analysis perspective and valuations elevated, stocks may be due for a pause. Our base case calls for a mild and short-lived recession to begin by year-end, but the latest economic data have slightly raised the odds of a soft landing. All index data from FactSet.

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Marketing Marketing Asset Allocation Valuation 52

James Hendries

AUGUST 30, 2022

Still, corporate America delivered the type of upside investors have grown accustomed to in much easier economic environments. We’re counting on inflation pressures easing next year while economic growth potentially picks up from the anemic level in the first half of 2022 to provide additional support. The numbers.

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Marketing Marketing Valuation Economics 52

James Hendries

AUGUST 23, 2022

At this rate, home sales will likely continue to slow and residential investment could turn out to be a drag on Q3 economic growth. Any economic forecasts set forth may not develop as predicted and are subject to change. It is also a major component used to calculate the price-to-earnings valuation ratio. 08/23).

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James Hendries

SEPTEMBER 13, 2022

Likewise, during periods of economic slowdown, temporary workers are typically the first to get the notorious pink slip. One risk is the high number of workers in temporary help services since these jobs often are the first to go during times of economic uncertainty. Investing involves risks including possible loss of principal.

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Marketing Marketing Economy Valuation 52

James Hendries

NOVEMBER 1, 2022

With a series of important economic indicators suggesting the economy is declining and inflation is finally decelerating, albeit very slowly, markets are beginning to factor in that the Fed may soon transition to a less aggressive stance in early 2023. Any economic forecasts set forth may not develop as predicted and are subject to change.

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Marketing Marketing Manufacturing Economy 52

James Hendries

SEPTEMBER 20, 2022

economic growth. More specifically, it reflects how the Fed intends to stimulate or slow economic growth by cutting or raising its policy rate. This is referred to as an inverted yield curve, which has been a pretty reliable predictor of economic recessions. The shape of the yield curve is not normal. The shape of U.S

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

AUGUST 15, 2022

due to expectations of slowing economic growth. Any economic forecasts set forth may not develop as predicted and are subject to change. Corporate bonds are considered higher risk than government bonds. It is also a major component used to calculate the price-toearnings valuation ratio. We could see a retest of 3.5%

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Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

NOVEMBER 15, 2022

Any economic forecasts set forth may not develop as predicted and are subject to change. Corporate bonds are considered higher risk than government bonds. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates.

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Portfolio Taxes Government Investment Advisor 52

James Hendries

JANUARY 20, 2023

These headwinds—clearly not new news—include slower global economic growth, cost pressures from still-elevated inflation, ongoing supply chain issues, currency drag from a stronger U.S. Even the economic pressures have eased some, with fourth quarter U.S. Insurance products are offered through LPL or its licensed affiliates.

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Marketing Marketing Economy Economics 52

James Hendries

SEPTEMBER 27, 2022

As we know from historical precedents, when the Fed aggressively raises rates, economic growth slows or outright contracts, which is the Fed’s goal. High quality bonds tend to perform relatively well during economic slowdowns and/or contractions. Any economic forecasts set forth may not develop as predicted and are subject to change.

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James Hendries

JULY 13, 2022

Although energy prices came down some, weakening economic data and the lack of a cease-fire in Ukraine offset the modest gas price relief. Any economic forecasts set forth may not develop as predicted and are subject to change. Corporate bonds are considered higher risk than government bonds.

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Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

JANUARY 31, 2023

Any economic forecasts set forth may not develop as predicted and are subject to change. 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. All index data from Bloomberg.

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Marketing Marketing Valuation Insurance 52

James Hendries

OCTOBER 7, 2022

Any economic forecasts set forth may not develop as predicted and are subject to change. Corporate bonds are considered higher risk than government bonds. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

SEPTEMBER 8, 2022

Any economic forecasts set forth may not develop as predicted and are subject to change. Corporate bonds are considered higher risk than government bonds. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

DECEMBER 4, 2022

Economic and corporate data support the initial strong reads on holiday retail sales despite the macro headwinds, reinforcing the idea that today’s consumer is in a better position than usual at this point in the business cycle. Any economic forecasts set forth may not develop as predicted and are subject to change.

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James Hendries

NOVEMBER 15, 2022

Growth stocks typically trade at higher valuations on the premise that an investor is buying a company now that will grow to be a much larger company, producing higher levels of cash and profit in the future. Increasing the discount rate, which lowers the present value of future cash flows, and company valuations. 11/23).

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Marketing Marketing Asset Allocation Valuation 52

James Hendries

SEPTEMBER 7, 2022

Businesses often begin cutting these jobs during periods of economic uncertainty and an increasingly large number of individuals in these roles is inherently unstable for the labor market. Any economic forecasts set forth may not develop as predicted and are subject to change. Technical analysis perspective. 09/23).

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Marketing Marketing Valuation Insurance 52

James Hendries

NOVEMBER 22, 2022

Any economic forecasts set forth may not develop as predicted and are subject to change. 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. All index data from Bloomberg. 11/23).

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Marketing Marketing Valuation Asset Allocation 52

James Hendries

AUGUST 15, 2022

Any economic forecasts set forth may not develop as predicted and are subject to change. 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. All index data from FactSet. 08/23).

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The Big Picture

SEPTEMBER 5, 2023

And we’d sort of turn that into a valuation business. MILLER: Well actually I thought, leading up to the great financial crisis, I thought to myself, we’re going to be out of business within a couple of years because nobody wanted an independent valuation. What are the, you know, I’d literally have it in my handheld.

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