haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
"Specifically, we have the most fundamentally bifurcated market than I have ever seen in my 25 plus years of actively speculating and investing, as there are more simultaneously historically cheap firms, and historically expensive firms, both occurring at the same time, than I can ever remember, creating what should be a dream environment for the few remaining fundamental stock pickers."
https://seekingalpha.com/article/4230547-fundamentals-wrong-scapegoat
I sure agree with the writer quoted above. "The Market" as judged by the big high volume stocks, especially the famous big tech winners, is expensive. And it is not just those high fliers. The Shiller PE is now 27.50, while its median is much lower at 15.69.
Nevertheless, many ordinary stocks are very cheap with prices lower than reasonable valuations for those same stocks. My memory is that a very similar situation existed at the turn of the century. Favored groups were trading at out-of-sight valuations. In fact, often these high flying stocks had little or no real value, but astonishing market caps. Meanwhile, REITs, as well as equities that represented the industrial heart of America, were being given away.
If there us to be a huge economic discontinuity, as described in another thread by Running Man, all bets are off and comparisons with early times might lead to error. But if not, and if values will eventually command attention, some very compelling bargains are lying around right now. All that will be necessary to bring an adjustment is that business does not fall apart and that most sound companies continue to pay their current dividends.
Ha
https://seekingalpha.com/article/4230547-fundamentals-wrong-scapegoat
I sure agree with the writer quoted above. "The Market" as judged by the big high volume stocks, especially the famous big tech winners, is expensive. And it is not just those high fliers. The Shiller PE is now 27.50, while its median is much lower at 15.69.
Nevertheless, many ordinary stocks are very cheap with prices lower than reasonable valuations for those same stocks. My memory is that a very similar situation existed at the turn of the century. Favored groups were trading at out-of-sight valuations. In fact, often these high flying stocks had little or no real value, but astonishing market caps. Meanwhile, REITs, as well as equities that represented the industrial heart of America, were being given away.
If there us to be a huge economic discontinuity, as described in another thread by Running Man, all bets are off and comparisons with early times might lead to error. But if not, and if values will eventually command attention, some very compelling bargains are lying around right now. All that will be necessary to bring an adjustment is that business does not fall apart and that most sound companies continue to pay their current dividends.
Ha