ClearMoney

DECEMBER 14, 2021

Decades of research on stock returns has produced a vast number of published factors. Valuation theory helps us identify relevant factors by providing insights about differences in expected returns across stocks. Bloomberg Government 1–3 Year and Intermediate Indices. Government: Bloomberg US Government Intermediate Index.

Investing 52

Investing Investments Commission Distribution 52

Brown Advisory

JANUARY 1, 2021

When does crowd psychology take hope for economic return beyond what valuation can support? And why do markets irregularly detach fundamentals from valuation to their own detriment? as featured in the book, “Valuation: Measuring and Managing the Value of Companies, University Edition.” In his book “What is Time?

Investing 52

Investing Investments Valuation Economics 52

James Hendries

JANUARY 13, 2023

When LPL Research released the Outlook 2022: Passing the Baton in December 2021, the team’s view was that the hit from inflation would be manageable and would therefore limit the number and magnitude of interest rate increases, enable the U.S. economy to avoid recession, and support above-average valuations.

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

James Hendries

AUGUST 30, 2022

The numbers. Some of the key numbers include: Estimates for S&P 500 earnings per share (EPS) growth coming into reporting season were around 4.1%. That number looks like it will end up at around 6.2%, according to FactSet estimates [Figure 1]. Insurance products are offered through LPL or its licensed affiliates.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

OCTOBER 18, 2022

That means that the other 10 S&P sectors will likely see an earnings decline even if numbers come in better than expected, as they almost always do. While the pundits are mostly focused on what can go wrong this earnings season, there are several reasons to expect the numbers for this quarter to be decent. There are Some Positives.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

NOVEMBER 15, 2022

Corporate bonds are considered higher risk than government bonds. It is expressed as a number of years. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates. Interest income may be subject to the alternative minimum tax.

Portfolio 52

Portfolio Taxes Government Investment Advisor 52

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.

Portfolio 52

Portfolio Investing Investments Management 52

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.

Portfolio 52

Portfolio Investing Investments Management 52

James Hendries

AUGUST 15, 2022

Job gains were broad-based and especially prominent in sectors such as education, health care, and government. Stock valuations are higher but bond yields are still low enough to support valuations with the 10-year Treasury yield well under 3% despite the big jobs number. is currently not in recession. 08/23).

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

SEPTEMBER 13, 2022

Since last year, the number of part timers who would prefer a full time job is steadily declining. 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. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

AUGUST 15, 2022

Corporate bonds are considered higher risk than government bonds. It is expressed as a number of years. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates. Interest income may be subject to the alternative minimum tax.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

OCTOBER 7, 2022

Corporate bonds are considered higher risk than government bonds. It is expressed as a number of years. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates. Interest income may be subject to the alternative minimum tax.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

SEPTEMBER 8, 2022

Corporate bonds are considered higher risk than government bonds. It is expressed as a number of years. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates. Interest income may be subject to the alternative minimum tax.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

JULY 13, 2022

Corporate bonds are considered higher risk than government bonds. It is expressed as a number of years. It is also a major component used to calculate the price-toearnings valuation ratio. Insurance products are offered through LPL or its licensed affiliates. Interest income may be subject to the alternative minimum tax.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

JANUARY 20, 2023

A number of headwinds As was the case last quarter, corporate America faces several stiff headwinds this earnings season. The path to a sub-$220 number for S&P 500 EPS estimates this year, if we get there, will be gradual. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

JUNE 20, 2023

As such, we don’t think it will be long before official government numbers reflect the decrease in rent prices. 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.

Marketing 52

Marketing Marketing Economy Communication 52

James Hendries

SEPTEMBER 7, 2022

Here are some numbers to illustrate the consistency of this seasonal pattern: Since 1950, the S&P 500 Index has averaged a 0.54% decline in September, the worst of all 12 months. It is also a major component used to calculate the price-to-earnings valuation ratio. Technical analysis perspective. All index data from FactSet.

Marketing 52

Marketing Marketing Valuation Insurance 52

James Hendries

NOVEMBER 1, 2022

Expectations are the economic slowdown will become more pronounced, and as the lagged effect of cumulative rate hikes works its way into the broader economy, the unemployment rate will rise and the number of job openings will continue to fall. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Manufacturing Economy 52

James Hendries

DECEMBER 4, 2022

Retail sales data from the Census Bureau (we focus on the Retail Sales excluding Food Service, Autos, Building Materials, and Gas Stations statistics) has shown year-over-year growth, slow from the average mid-teens numbers seen in 2021, to a still healthy upper-single digits number in 2022 [Figure 2]. All index data from Bloomberg.

Retail 52

Retail Marketing Marketing Sales 52

The Big Picture

SEPTEMBER 5, 2023

And I literally put the entire Schedule A, which is the pricing square footage unit numbers in a Hewlett Packard 41B using bit mapping. And we’d sort of turn that into a valuation business. Everybody knew the number but the appraiser. What are the, you know, I’d literally have it in my handheld. Just keep it fair.

Sales 130

Sales Numbers Taxes Marketing 130

The Big Picture

FEBRUARY 7, 2023

He’s really well known on the street and puts out a number of fascinating books, arguably a sort of parallel career to Michael Lewis. So that’s important, number one. RITHOLTZ: He had Bernie Madoff numbers, didn’t he? He is one of the co-founders of Puck. RITHOLTZ: Absolutely. COHAN: Okay. He was fine.

Engineering 252

Engineering Banking Management Numbers 252

James Hendries

JULY 6, 2022

While we acknowledge that a V-shaped recovery is probably not in the cards and prior valuation targets no longer appear achievable, we remain constructive on equities for the second half, but not complacent. Remember stock valuations are inversely correlated to inflation and interest rates. So a P/E over 20 is probably too rich.

Marketing 52

Marketing Marketing Valuation Economy 52