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Olduvai III: Catacylsm
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Measuring The Equity Bubble – “You Are Here”

Measuring The Equity Bubble – “You Are Here” On best revisions for GDP and earnings in 2018 after Tax reform, the S&P is now less expensive than before, at just 57% above historical average… In this brief note, we wanted to update our value indicator for the S&P, after the steep consensus upgrades to US earnings and […]

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Technically Speaking: This Is Nuts

Technically Speaking: This Is Nuts Since the election, markets have accelerated the pace of the advance as shown in the chart below. The advance has had two main story lines to support the bullish narrative. It’s an earnings recovery story, and; It’s all about tax cuts. There is much to debate about the earnings recovery […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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