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...The forward P/E of the Mag 7 is 31. The rest of the S&P 500, excluding the Mag 7 and four stocks with negative expected earnings, has a forward P/E of 19....
...Thus only a fraction of overall AUM is deployed in strategies that have a direct impact on the VIX® index (e.g. 1-month over/underwriting strategies on the S&P 500 index)....
...The S&P 489 has a weighted average P/E of 24, cheaper than the whole index, but not by much....
...If you take the Magnificent 7 out of the S&P 500, its multiple moves from 22 to 19. The S&P 350 is at 14....
...The leading seven tech stocks traded on a 24-month forward P/E of 52x in 2000, more than double the Mag7’s 25x....
...The equity market may be sending a signal that the worst has passed for natural gas. There could be more to come for investors in E&Ps too. alan.livsey@ft.com...
...Looking at a 20-year chart of the price/earnings valuations of the S&P 500 and its small cap sibling the S&P 600, it seems possible that this is what has happened to small stocks: Small caps (dark blue...
...On a forward P/E basis, the S&P 500’s 2021 (harmonic) average was 23, versus an average of 22 in the past four months and 18 in the past three decades....
...And in spite of its Tesla handicap (down 27 per cent year-to-date on a miss, a vague warning and a wayward CEO) the Mag7 has continued to outgrow the S&P 493: “Investors often ask us whether the group’s...
...Using earnings estimates for five years from now, the average ratio falls to a normal-seeming 18 (unfortunately, none of the usual sources provide estimates for the S&P five years out, so a comparison with...
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...In the median experience since 1984, the S&P 500 forward P/E has declined by 2% in the 12 months preceding Election Day....
...K-SURE, the South Korean government export credit agency, has withdrawn insurance needed to underwrite SK E&S’s investment in the Timor Sea project....
...High multiples on which they trade have pushed the broader S&P 500 Shiller price-to-earnings ratio, aka the cyclically adjusted p/e ratio (CAPE), up from less than 30 times in late 2022 to 34 times....
...If such a negative feedback loop were to take hold (as it did in the 1970s), investors would move out of equities and into fixed income assets – i.e. seek to receive elevated yields that companies and governments...
...Stocks with low P/E ratios relative to their expected growth rates are rare....
...For a stock that is expected to increase earnings below the S&P 500’s average pace this year and next, that’s still a lot....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...case of a volatility surge during a market crash, the gamma and delta of the covered calls would quickly go to zero but wouldn’t reinforce the market move (i.e., gamma won’t turn negative)....
...The P/E relative of the stock on UBS 2026E EPS (against the market) goes to a record high of 152% on the UBS forecast of earnings. 2....
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...In 2021, S&P started publishing numbered scores from 1 to 5 for the three E, S and G categories as part of corporate credit scores....
...implementation: Cinemas bank on Bond to put regular movie outings back in the diary External influences: England eases Covid travel curbs and simplifies traffic light system International business: M&S...
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