|
|
|
With a peak-to-trough decline of nearly 30%, we look at whether P/E ratios are under- or overvalued by
historical standards. Our analysis looks at historical 1- and 10-year normalized earnings, as
advocated by Robert Shiller. The
analysis is part of an interview with
Vitaliy Katsenelson, who offers his projections for the US and global economies.
Allen Sinai, Chief Global
Economist and President of Decision Economics, says the economy is in a full-fledged recession and will get
worse before it gets better. His own assets are 100% in short term
Treasury securities.
We take a look at often-heard claims that the
market performs better under presidents of a specific party. Our
analysis shows that such analysis - including one published on the op-Ed
page of the New York Times last
week - are at best misleading and at worst distortions of analytical
techniques.
More articles below.
Our quarterly analysis of changes in the
Most Popular Mutual Funds in the Advisor Perspectives universe
identifies a number of funds that have exhibited significant gains in popularity among advisors. We
also show that advisors decreased
holdings in gold (GLD) during the third quarter.
We have two guest contributions. Robert Wilson of Financeware looks
beyond the headlines, and explains how
the government's guarantee of money market funds really works,
and the questions advisors should ask to determine if their clients' funds
are protected. Thomas Tan's article, Survival of the Longest, makes
the case for a very bearish forecast, and
advocates holdings of 100% gold.
We have two letters to the Editor on the ability to emulate the asset allocations of endowment funds, and
we have a correction to an
article that appeared last week.
Lastly, we highlight some recent Advisor Market Commentaries.
If you are experiencing problems opening or navigating through our
newsletters, we can send you a text-only version. Please send an
email to feedback@advisorperspectives.com requesting the
"text-only" version.
If you have received this newsletter in error, or you do not wish to
receive future newsletters, please use the "Safe Unsubscribe"
button at the bottom of this email.
|