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...But notice that in the more recent statement, Berkshire is making a comparison to “the average American corporation,” not the S&P 500....
...That could be what is happening in the p/e chart above. That would not necessarily signal the death of the size factor. One good read Sport gambling is proliferating in the US....
...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....
...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....
...P [oil and gas exploration and production] industry”....
...The acquiring consortium, known as Renaissance, includes Switzerland-based Petrolin and four Nigerian oil producers, ND Western, Aradel Holdings, First E&P and Waltersmith....
...That bond was underwritten by a subsidiary of the Chubb corporation....
...The latter trades on a price/earnings (p/e) ratio of 5.8 times, which he argues compares very favourably to US banks such as Citibank, which trade at more than 10 times....
...Looks like S&P Ratings doesn’t find “attestations” especially convincing, either....
...The MSCI China index is set to finish the year down more than 17 per cent, compared to a rise of more than 24 per cent for the S&P 500 in the US....
...Below is the trailing P/E ratio on the S&P 500: There are other signs of dizziness out there. Some individual stocks have gone bananas....
...According to S&P Global, in the first nine months of 2023 global private equity investments had an aggregate value of $365.3bn, a decline of 44 per cent year over year....
...Exclude the Magnificent Seven and an “S&P 493” would have returned only 8 per cent, according to Goldman Sachs’s latest calculations....
...And whereas there is much disagreement around “E” and “S”, few people question sound governance as a worthy goal....
...Ethan WuAnd just to put a finer point on it, the point here is it’s not enough to just look at headline p/e for the UK, headline p/e for the US and say, well, golly, there’s a huge discount here....
...What is the trailing P/E ratio of the top-10 stocks in the S&P 500 today? They are more overvalued than the top-10 were in the tech bubble....
...That euphoria has yet to be duplicated, though the IPOs in 2020 saw an average of 50 per cent first-day returns relative to the S&P 500....
...PetroChina, part of the state-owned China National Petroleum Corporation, and chemicals group Sinochem “have been on the hunt” for staff to set up desks in London, say the people....
...Standard p/e’s are slightly above historical averages, the Shiller cyclically adjusted p/e ratio is very high and the equity risk premium is near a decade low....
...Fox News on Monday morning aired a segment where a pundit argued that the Republican primary race remained competitive, despite Trump holding a 20-plus percentage point lead in the polls....
...That is why those interested in the “E” in “ESG” could welcome the findings of a much-cited 2020 study from Patrick Bolton and Marcin Kacperczyk....
...Yet the US Federal Deposit Insurance Corporation estimates that unrealised losses on American banks’ securities amounted to $515.5bn at the end of March, equivalent to 23 per cent of the banks’ capital....
...After Silicon Valley Bank collapsed in March, investors have focused on the risks posed by paper losses on bond holdings across the industry....
...Last week I wrote this about the US stock market: Standard p/e’s are slightly above historical averages, the Shiller cyclically adjusted p/e ratio is very high and the equity risk premium is near a decade...
...The S&P 500 stock index closed 1.4 per cent lower on Wednesday....
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