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Prof Jeremy Siegel's Strange Claim: "Stocks Are Dirt Cheap"
JeremySiegel.png Jeremy Siegel, the beloved Wharton professor who juiced the bull market of the 1990s with his excellent Stocks For The Long Run , has had a rough go of late. First, the "long run" has turned out to be a bit longer than most people expected. Second, in the years since lending his ...
Likely S&P 500 Bottom: 600, Down 40% From Here
Likely S&P 500 Bottom: 600, Down 40% From Here
clusterstock.com — GranthamS&Pprofitmargins.png The good news: The S&P 500 is trading near fair value. The bad news: If the... current post-bubble low follows previous post-bubble lows, the S&P 500 will probably bottom around 600. First things first, however: Long-term ... (more) Likely S&P 500 Bottom: 600, Down 40% From Here
U.S. Stocks Surge, Led by Shares of Energy, Real-Estate Firms
bloomberg.com — Nov. 13 (Bloomberg) -- U.S. stocks rallied the most in two weeks, with the Standard & Poor's... 500 Index jumping 6 percent in the final hour, as investors snapped up the cheapest energy shares on record and real-estate companies gained after CB Richard ... (more) U.S. Stocks Surge, Led by Shares of Energy, Real-Estate ...
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Friday links: not expecting the worst
Abnormal Returns — ... for even the biggest hedge funds.  (DealBook) Investors are still not “expecting the worst.”  (The Balance Sheet) Add dividend cuts to the woes of the stock market.  (WSJ.com) Some one thinks they can profit from the mortgage mess.  (Fortune.com) Are stocks truly ‘dirt cheap‘?  (Clusterstock) The commercial paper market is ...

Worthwhile Reading
The Big Picture — ... NIALL FERGUSON (Vanity Fair) • The Obama Market: What’s Hot, What’s Not (Barrons) Sectors likely to be helped — or hurt — under the new administration. • How the Thundering Herd Faltered and Fell (NYT) • WORST TWO DAY DECLINE SINCE THE ‘87 CRASH (Bespoke) • Obama May Inherit Bull Market After $6 Trillion Loss (Bloomberg) • Bonds Priced for Depression Beat Stocks (Barrons) • Prof Jeremy Siegel’s Strange Claim: “Stocks Are Dirt Cheap” ...

Bad Hair Quality?
Technically Speaking, Market Analysis and Theory — Okay, the title's unfair, especially from a follicle-challenged blogger. But Professor Jeremy Siegel has simply become a whack job shill who is becoming more and more discredited day by day. Frankly he's become an embarrassment, the anti-Roubini. ...

Related Content
Jeremy Siegel is brilliant, uplifting and just plain wrong!
ContrarianEdge.com 3/4/2009 — S&P 500 earnings topped out at about $84 a share in June 2007, while corporate profit margins were 44% above their average since 1980. At the time, these numbers were inflated by global bubbles in real-estate, commodities, liquidity, and growth ...
How Low Can The Market Go?
businessinsider.com 3/2/2009 — On days like today, it helps to look at the silver lining. Here it is: The farther stocks fall, the cheaper they get--and the higher the expected long-term return becomes. Unfortunately, that doesn't mean we don't have a long way to go on the ...
S&P 500 Now Down 52% From All-Time High
bespokeinvest.typepad.com 2/25/2009 — There have now only been two periods in the history of the S&P; 500 where the index declined more than 50% from an all-time high -- 1929 and now. In the first chart below, we highlight the percentage change from the S&P; 500's most recent all-time ...
U.S.
bloomberg.com 11/18/2008 — S&P 500 Index's `Retest' of Low Fails to Spur Rally (Update1) By Elizabeth Stanton Nov. 18 (Bloomberg) -- The Standard & Poor's 500 Index is poised to extend this year's 42 percent drop after a rally from last week's five-year low lasted just one day, ...
A 40-Year Look
crossingwallstreet.com 11/20/2008 — The S&P; 500 closed at a 68-month low today. Given that the CPI report came out today, here’s an interesting stat. Adjusted for inflation, the S&P; 500 has advanced just 23.9% in 40 years. Annualized, that’s 0.54%. This means that almost the ...
Are S&P 500 Earnings Wrong?
bespokeinvest.typepad.com 2/26/2009 — In an Op-Ed in this morning's Wall Street Journal, Jeremy Siegel argued that the earnings for the S&P; 500 are understating actual earnings. While his entire argument can be read here, his basic premise is that Standard and Poor's calculates earnings ...
The Most Volatile Market Ever
bespokeinvest.typepad.com 11/25/2008 — Over the last 50 trading days, the average absolute daily percentage change of the S&P; 500 has been...wait for it...3.82%! That means the S&P; 500 is averaging a daily move of up or down nearly 4%. This is definitely one of the craziest statistics of ...
MarketBeat : By the Numbers -- How 2008 Shakes Out
blogs.wsj.com 1/2/2009 — Now that 2008 is finally history, it’s time to look back at the year in numbers — most of them pretty terrible. -33.84% The percentage loss in the Dow industrials, worst since 1931, third-worst in history. -38.49% The percentage loss in the S&P 500, ...
Stocks Cheap? Don't Be A Fool
businessinsider.com 6/16/2009 — shillerpejune15.jpg Fund manager John Hussman looks at stock valuations a few different ways and comes to the same conclusion we have: They're not cheap. In fact, Hussman actually thinks they're moderately overvalued. This doesn't mean the market will ...
The S&P 500's Incredibly Shrinking Market Cap
bespokeinvest.typepad.com 2/24/2009 — In an earlier post on the declines that individual stocks in the S&P; 500 have seen over the course of the index's six-day losing streak, we noted that because of their market caps, if they were being considered for inclusion into the index today, ...
Unisys Booted From S&P 500; Smashed Yet AgainBARRONS.com: Tech Trader Daily 11/10/2008
Last Friday, Standard & Poor’s announced that it has decided to boot Unisys (UIS) from the S&P 500, replacing it with People’s United Financial (PBCT) effective at the close on Wednesday. S&P notes that Unisys ...