As Mark Hulbert noted recently, “everyone” is worrying about a “bubble” in the stock market. It plots the relative frequency of Google searches based on the term ‘stock market bubble. What Is A Bubble? “”My confidence is rising quite rapidly that this is, in fact, becoming the fourth ‘real McCoy’ […]

The basic premise is that overpaying for earnings today leads to lower rates of return in the future. Of course, given the flood of liquidity from global Central Banks, the overvaluation of markets is of no surprise. While Central Bank interventions boost asset prices in the short-term, there is an […]