Multpl.com has a handy Graham / Shiller PE10 chart for the S&P500 that updates on daily basis. Where is the PE10 today? 19.93: Interested in the mean, median, minimum or the maximum? Multpl.com has those too: Mean: 16.37 Median: 15.74 Min: 4.78 (Dec 1920) Max: 44.20 (Dec 1999)?
Posts Tagged ‘Benjamin Graham’
Handy automatic Graham / Shiller PE10 chart
Posted in About, Austrian Economics, Value Investment, tagged Benjamin Graham on July 14, 2010 | 3 Comments »
Graham Shiller P/E10 vs forward P/E ratios
Posted in About, Stocks, Value Investment, tagged Benjamin Graham on June 16, 2010 | 2 Comments »
In MarketBeat’s Stocks Too Cheap? Or Earnings Estimates Too Rosy? (subscription required), Matt Phillips has an interesting article on forward price-to-earnings ratios: The forward-earnings in question are really consensus forward-earnings estimates, churned out by Wall Street’s broker dealers, the so-called “sell side.” And the “sell-side” as a whole tend to be a bullish bunch. Phillips takes Oppenheimer [...]
Mebane Faber on Shiller PE10 ratio
Posted in About, Stocks, tagged Benjamin Graham on June 15, 2010 | Leave a Comment »
Mebane Faber has an interesting analysis of the expected ten-year annualized real returns to investors in the various Shiller / Graham P/E10 deciles: I’ve discussed the Graham / Shiller PE10 metric before (see my April 9 post Graham’s PE10 ratio). In that article, Doug Short described the PE10 ratio thus: Legendary economist and value investor Benjamin [...]
Lost Graham speech rediscovered
Posted in About, Stocks, Value Investment, tagged Benjamin Graham on June 9, 2010 | 1 Comment »
Jason Zweig has unearthed an original typewritten text of a speech Benjamin Graham gave in San Francisco one week before John F. Kennedy was assassinated. Says Zweig: In this brilliant presentation, Graham explores how an investor should go about determining whether the market is overvalued, how to tell what asset allocation is right for you, [...]
Graham’s P/E10 ratio
Posted in About, Austrian Economics, Value Investment, tagged Benjamin Graham, Graham P/E10 on April 9, 2010 | 10 Comments »
The wonderful DShort.com blog has a post, Is the stock market cheap?, examining the S&P500 using Benjamin Graham’s P/E10 ratio. Doug Short describes the raison d’être of the Graham P/E10 ratio thus: Legendary economist and value investor Benjamin Graham noticed the same bizarre P/E behavior during the Roaring Twenties and subsequent market crash. Graham collaborated with [...]
Performance of Japanese sub-liquidation value stocks
Posted in About, Liquidation, Liquidation Value, Net Current Asset Value, Net Quick Stocks, Stocks, tagged Benjamin Graham, Japan, NCAV, Net Current Asset Value on February 8, 2010 | 2 Comments »
Following on from last week’s Japanese liquidation value: 1932 US redux post, I’ve been trying to determine whether the historical performance of Japanese sub-liquidation value stocks matches the experience in the US. The question arises because of the perception (rightly or not) that the weakness of shareholder rights in Japan means that net current asset value [...]
Greenbackd 2010 Graham NCAV Portfolio
Posted in Net Current Asset Value, Stocks, tagged Benjamin Graham, NCAV on December 18, 2009 | 10 Comments »
Update: I’ve removed SIG from the list. In Ben Graham’s Net Current Asset Values: A Performance Update Professor Henry Oppenheimer examined the return on stocks selected using Benjamin Graham’s net current asset value strategy over the period 1970 to 1983. Oppenheimer’s conclusion about the returns from such stocks was nothing short of extraordinary: The mean return from net [...]
Valuing long-term and fixed assets
Posted in About, Greenbackd, Liquidation Value, Net Cash Stocks, Net Current Asset Value, Net Net Stocks, Net Quick Stocks, Net Quick Value, tagged Benjamin Graham, Liquidating Value, Net Cash Stock, Net Current Asset Value, Net Net Stock, Net Quick Value, Security Analysis on January 15, 2009 | 13 Comments »
We’ve recently received several questions about our valuation methodology. Specifically, readers have asked why we include property, plant and equipment in our valuation, and why we only discount it by half, as opposed to a higher figure (two-thirds, four-fifths, one-hundred percent). They are concerned that by including property, plant and equipment in our assessment, or [...]
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