While the world has certainly become flatter and globalization isn’t going anywhere, different regionally stock market characteristics still do exist. One such example is what management decides to do about dividends....
As we are approaching the closing bell today and looking at the worst day for the S&P 500 since April 10th, and possibly only the 4th roughly 2% down day of the year, we thought it would be a good time to highlight the deteriorating...
The Advance/Decline Ratio is a stock market breadth indicator that measures the number of stocks that end the day at a higher price versus the number of stocks that end the day at a lower price....
Here is yet another indicator highlighting the absolute lack of volatility in the stock market. The below chart measures the cumulative number of stock price moves of 5% or more over the last 65 days for all stocks in the MSCI World Index....
After a modest surge in June in which the percent of stocks in the MSCI World Index making new 52-week highs rose to 23%, new highs have languished....
The Fed is set to conclude its nearly six-year-old experiment with quantitative easing (QE) and the Federal Reserve Board has clearly laid out the most likely course for termination of the program....
As we tend to do at the beginning of a new week, we are going to look back briefly at the previous week to see what of our 30 factors had the highest explanatory value to the market. The ”winner” last week was Beta which...
Last week we took a look at how much price to book multiples have expanded since 2008. Today, we are undergoing the same exercise but this time we are looking at price to cash flow multiples....
We are always keen to measure the behavior underlying stock price movements and one way in which we do that is to keep track of investor accumulation and distribution of stock. Investor accumulation of stock as prices rise signals confidence, and vice verse....
One year cumulative net advances in the MSCI World Index surged from the end of April until just a few weeks ago: By region, MSCI Asia Pacific exhibited very similar behavior to the World Index while net advances in MSCI Europe maintained elevated levels seen...
Of the 30 factors we track, dividend yield and 3-month change in EPS estimates have had the highest r-square value relative to MSCI World performance over the past month....
Many investors, including ourselves, look at the CBOE VIX to measure market volatility. Over the past few days the VIX has made multi-year lows and is back at levels last seen in 2006-2007. Another way that we look at volatility is by tracking the standard...
While the MSCI World Index is just a smidge off it’s all-time high, the average stock is about 8% below it’s 252-day high. Recent history suggests that we will need a slight consolidation, either through price or time, in order to make way for further...
It is easy to forget just how low valuations were in 2008 and how much they have expanded in the past six years....
The number of instances in which constituents of the MSCI World Index have experienced large price swings– plus or minus 5% in either direction– is approaching previously low levels that coincided with market declines: Asia-Pacific Europe North America...
