Market Valuation
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Is the US too expensive?
Russell Muldoon
January 15, 2015
With headlines booming across the newswires such as “U.S. Retakes Helm of Global Economy” citing the US economy is on the up, the US market has soared as share prices – on average – have baked-in a clear road ahead for listed businesses and their earnings prospects.
But just to what extent? continue…
by Russell Muldoon Posted in Companies, Insightful Insights, Market Valuation.
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Earnings per share growth forecasts under pressure
David Buckland
January 13, 2015
With seven months to go before Australian companies commence reporting their results for the year to June 2015, it will not surprise readers to see earning per share (EPS) growth forecasts being cut to sub 5 per cent. According to Deutsche Bank, EPS growth forecasts for June 2016 financial year has also been cut to 7 per cent. The expectations for both years are below the 8 per cent average figure recorded in the 2002-2011 ten-year period.
by David Buckland Posted in Insightful Insights, Market Valuation.
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Did we see any new opportunities in 2014?
Roger Montgomery
January 8, 2015
Over the next few days, we will take a look back at 2014 and highlight the most popular articles based on your views and comments.
Each week, we scan the market for fresh opportunities. If you’re doing the same – only to come up with a very small handful of desirable candidates (many of which you probably own already) – then you’re in good company. More important than our list is the observation that there are enough high quality candidates to at least fill part of a portfolio.
I was thinking about why there might just be an almighty stock market boom sometime between now and 2016.
In September, one of our preferred ‘Sells’ over recent years has been Arrium Ltd (ASX: ARI), formerly known as OneSteel.
by Roger Montgomery Posted in Companies, Insightful Insights, Market Valuation.
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Warning – don’t panic.
Tim Kelley
December 10, 2014
There have been volatile times recently on the ASX. With prices for oil, iron ore and coal falling sharply, the mood in the resources sector has turned decidedly sour. Further, the negative mood seems to have been adopted more broadly by the market, with a wide range of stocks showing meaningful price declines. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education, Market Valuation, Value.able.
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Are stocks about to crash?
Roger Montgomery
November 21, 2014
About a year ago GMO’s Jeremy Grantham was very bullish. The S&P500 was around 1,800 points and Grantham made a prediction that in the year or two the market would rally 20 per cent to 30 per cent.
With the S&P now at 2052 and up 14 per cent since his previous bullish call, we thought it would be prudent to read his letter entitled Bubble Watch Update included in the latest quarterly report to GMO investors. continue…
by Roger Montgomery Posted in Insightful Insights, Market Valuation.
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Darth Veda
Russell Muldoon
November 7, 2014
Veda Group Limited (VED) is one of the more successful IPO’s we have participated in recently. Listing in early December 2013 at $1.25 the stock went on to subsequently double in price hitting a high of $2.55 just a few months later.
Adding to this success was the exceptional 2014 full year results that came in ahead of the prospectus guidance, producing one of the best reports over the August reporting season. continue…
by Russell Muldoon Posted in Companies, Insightful Insights, Market Valuation.
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Are you sitting comfortably?
Tim Kelley
August 6, 2014
With the equity markets showing some signs of volatility recently, and several commentators starting to flag the possibility of a pullback, we thought it may be timely to revisit our stance on valuation and portfolio composition. continue…
by Tim Kelley Posted in Insightful Insights, Market Valuation.
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The screen
Russell Muldoon
August 4, 2014
On Friday morning, the local share market reacted negatively to overseas developments. I took this as an opportunity to screen the market in search of industry groups that offer attractive relative valuations, in order to focus on a few ideas for our research team to investigate. continue…
by Russell Muldoon Posted in Companies, Insightful Insights, Market Valuation.
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Market PE ratios
Russell Muldoon
July 24, 2014
The one-year forward price-to-earnings (P/E) ratio for the S&P/ASX 200 index has varied significantly over the past few years. In 2011 it fell to 12 times, and recently market participants have been sufficiently enamoured to push the ratio as high as 16-17 times.
by Russell Muldoon Posted in Insightful Insights, Market Valuation, Value.able.
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Digging for bargains
Roger Montgomery
July 9, 2014
Value investors around Australia are united in their view that there are few bargains remaining in the Australian stock market. This is evidenced by the M&A activity seen in the market for inferior-quality companies who have lost market share and suffered declining profits and/or margins. continue…
by Roger Montgomery Posted in Insightful Insights, Market Valuation.
