James Hendries

MARCH 13, 2023

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. But valuations strongly favor value over growth. The S&P 600 small cap index has returned about 1.5%

Assets 52

Assets Marketing Marketing Asset Allocation 52

James Hendries

JANUARY 13, 2023

economy to avoid recession, and support above-average valuations. The relationship between inflation and stock valuations is a strong one, as shown in Figure 2 , which meant the market could no longer support price-to-earnings (P/E) ratios over 20 (the same goes for the relationship between interest rates and stock valuations).

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

Sara Grillo

NOVEMBER 14, 2022

He is a flat fee advisor; not a licensed insurance agent. I am a CFA® charterholder and financial advisor marketing consultant. I have a newsletter in which I talk about financial advisor lead generation topics which is best described as “fun and irreverent.” Should advisors go to hell before selling an annuity?

Insurance 59

Insurance Financial Advisor Retirement License 59

James Hendries

JUNE 26, 2023

Investment Outlook Stocks have had a strong rally over the past eight months to establish a new bull market. With the broad market overbought in the short-term from a technical analysis perspective and valuations elevated, stocks may be due for a pause. Indexes are unmanaged statistical composites and cannot be invested into directly.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

JULY 3, 2023

Investment Conclusion Stocks have celebrated the newly minted bull market, closing out one of the best first halves for the S&P 500 in recent decades, up 15.9%, and a third consecutive quarterly gain over 7%. Indexes are unmanaged statistical composites and cannot be invested into directly. All index data from FactSet.

Marketing 52

Marketing Marketing Banking Valuation 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. Retail Sales Data Supports Initial Holiday Shopping Trends. over the last 20 years, pre-2020.

Retail 52

Retail Marketing Marketing Sales 52

James Hendries

NOVEMBER 15, 2022

comparatively faster sales or earnings growth) than peers. 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. large cap S&P 500 Index. Future cash flows are devalued.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

OCTOBER 18, 2022

But overall, we would expect modest estimate cuts to be received positively by markets, supported by lower valuations and depressed investor sentiment. rather than 4%) could prop up valuations, stocks will likely take their cues from earnings in the near term. Insurance products are offered through LPL or its licensed affiliates.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

SEPTEMBER 13, 2022

Home Sales Fall (Again). Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and does not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

MARCH 6, 2023

Higher interest rates are challenging stock valuations and perhaps pushing the gains further out in 2023, but we still see solid potential for double-digit returns for stocks this year. Indexes are unmanaged statistical composites and cannot be invested into directly. All index data from FactSet.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

AUGUST 30, 2022

In our Midyear Outlook 2022: Navigating Turbulence , released back in mid-July, we wrote that it was tough to see the bull case through the cloud cover, but that an improved macroeconomic environment may set the stage for higher valuations, further earnings growth, and solid gains for stocks over the rest of the year.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

JUNE 20, 2023

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 52

Marketing Marketing Economy Communication 52

James Hendries

AUGUST 15, 2022

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. Indexes are unmanaged statistical composites and cannot be invested into directly. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

OCTOBER 11, 2022

In addition, a major structural re-organization is in the planning stages that will involve sales of assets and spinning off parts of the international business. Indexes are unmanaged statistical composites and cannot be invested into directly. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Banking Government 52

James Hendries

JANUARY 20, 2023

LPL Research’s quantitative research team created a revisions composite factor, which combines four estimate revisions metrics (current and following fiscal year EPS and sales estimate revisions over last three months) into one standardized score. Indexes are unmanaged statistical composites and cannot be invested into directly.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

OCTOBER 25, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 52

Marketing Marketing Economics Economy 52

James Hendries

SEPTEMBER 7, 2022

Home Sales Fall (Again). Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and does not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Valuation Insurance 52

James Hendries

JANUARY 31, 2023

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Valuation Insurance 52

James Hendries

NOVEMBER 22, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

James Hendries

JANUARY 26, 2023

Should the Fed pause after a March interest rate hike, the stage may be set for a nice stock market rebound on the back of falling inflation, reasonable valuations, and stable interest rates. Indexes are unmanaged statistical composites and cannot be invested into directly. All index data from Bloomberg.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

NOVEMBER 1, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 52

Marketing Marketing Manufacturing Economy 52

James Hendries

AUGUST 3, 2022

We still expect a growing economy, steady, if not solid, earnings gains ahead, and stable interest rates to fuel higher stock prices, although further gains will be more difficult to achieve given the time it will take for inflation to come down enough for the Fed to more strongly signal a pause and higher valuations.

Marketing 98

Marketing Marketing Economy Valuation 98

James Hendries

SEPTEMBER 20, 2022

It should be noted that the Fed is not initially planning on outright sales of securities to shrink its balance sheet; rather, it will only reduce the amount of reinvestments by using monthly caps. Indexes are unmanaged statistical composites and cannot be invested into directly. All index data from FactSet.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

SEPTEMBER 27, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Asset Allocation 52

Asset Allocation Marketing Marketing Assets 52

James Hendries

AUGUST 15, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and does not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

OCTOBER 4, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 52

Marketing Marketing Economy Economics 52

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

James Hendries

JULY 21, 2022

Lower inflation tends to bring higher valuations (Fig.1). The market clearly does not expect 8 – 9% inflation to persist based on current stock valuations, but whether inflation eventually settles at 3% or 4% will go a long way toward determining how much higher stock valuations can go from current levels. If the U.S.

Management 52

Management Marketing Marketing Valuation 52

James Hendries

FEBRUARY 27, 2023

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 52

Marketing Marketing Government Economy 52

James Hendries

NOVEMBER 8, 2022

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. It is also a major component used to calculate the price-to-earnings valuation ratio. All index data from FactSet.

Marketing 52

Marketing Marketing Government Banking 52