Tag: equity valuations

The Market Is Not As Top-Heavy As It May Seem

The Market Is Not As Top-Heavy As It May Seem

In “Relative Equity Valuations, Diversification, and Creative Destruction,” I argued that one of the main attributes of the U.S. equity market, –  one that warrants it a premium to other global markets, – is its dynamism, which almost ensures that […]

A Theory Of Persistently High Equity Valuations

A Theory Of Persistently High Equity Valuations

There have been numerous theories offered to explain why equity valuations have continued to remain well-above their long-term historical averages.  Among them are: –The ability to defer taxation on equity investments through retirement plans -The dramatically lower costs associated with […]

Another Warning In The GDP Growth Data

Another Warning In The GDP Growth Data

Another Warning In The GDP Growth Data On Friday July 29th, 2016, the Bureau of Economic Analysis (BEA) released the second?quarter GDP figures and revisions for prior quarters. At a disappointing annualized growth rate of only 1.20%, second quarter GDP […]

Seven Salient Left Tail Scenarios

Seven Salient Left Tail Scenarios

Seven Salient Left Tail Scenarios by Jamil Baz, PIMCO In the wake of Brexit, eight years after the onset of the great financial crisis, now seems an apt moment to reassess a few economic themes. At PIMCO we do not […]