Private Investment

• Statistik
• Valuation

• US-Stocks (Valuation-History)
• Valuing Wall Street: Protecting Wealth
• Tobin's Q
• Global Valuation CAPE & Price-Book (selection)
• Shiller PE-Ratio (Feb. 2016) vs. S&P 500/Market Timing
• Price-Book-Value S&P 500 (history)
• Abweichung vom MEDIAN-Gewinn-KGV
• CAPE/Shiller-KGV (Jan. 2016)
• Magic Formula Investing (Joel Greenblatt)
• Valuation NYSE / Morningstar Tool
• Berkshire Hathaway (P/B-Valuation)
• EPS & S&P 500 (1988-2015)
• The Fed Model
• S&P 500 earnings (actuals & estimates, I/B/E/S)
• Rule of 20 (PE of 18.9 ok ?!)
• S&P500 dividend yield vs. 30-year U.S Treasury bond
• Dax-Kurs-Buchwert-Verhätnis (Juni 2016)
• DAX-Kursindex versus Kurs-Buchwert
• S&P 500, ROE & Price/Book-Ratio
• S&P 500 (Trailing Twelve Month Earnings)
• Cape Ratio vs. TBOND-Ratio
• Shiller PE (1881 - 2016)
• S&P 500 Forecast (2015, 2016)
• NIPA-Profits (S&P 500-PE-Ratio / Jeremy Siegel)
• S&P 500 ("fair") Valuation
• Cash Flow makes the world go around (S&P 500)
• DAX-Bewertung, EM-Bewertung (Q4-2016)
• Emerging Markets (Valuation)
• DAX bei KGV 29 (freaky...)
• DAX-Bewertung 1988-2010 (& beyond)
• Price-Sales-Ratio (P/S-Ratio), 1999 vs. 2015
• DAX-Rollierende 12-Monats-Entwicklung & Buchwert
• Kurs-Buchwert Europa-Aktien vs. US-Stocks
• Earnings Yield vs. Bond Yield ("Fair Valuation")
• Bewertung "Anleihen versus Aktien"
• DAX-Dividendenrendite versus...
• Bewertung Europa-Aktien versus US-Aktien
• S&P 500 Valuation (HY2 / 2017)
• Free Cash Flow (Yield)
• DAX - Bewertungsbänder
• Biotech (risky sector, but LT-prospects)
• Value - "Comeback" (?)
• y2k Tech-Bubble Peak versus US-Stock Market
• S&P 500 earnings (growth)
• MOAT, then management, but ALWAYS: Price
• Cash Flow Yield
• US-10 year T-Bond & US-Equities-Valuation
• S&P 500 Forward PE (and IT ; -)
• Mögliche DAX Renditen (2018 bis 2026 / 2031)
• S&P 500 - Index-earnings (April 2018)
• PE-Ratio NASDAQ-100 (July 2018)
• S&P 500 Fair Value (Based on Fwd-Earnings)
• Price-Earnings Ratio S&P 500 (PE-Ratio S&P 500)
• Austrian Stock Market (Valuation / PE-Ratio)
• DD-Model (S&P 500, earnings & 10YR-treasuries)
• DDM S&P 500 (May 2019)
• Dekaden (Fokus: 1950 - 2019)
• Valuation matters (2019 versus 1999)
• Dividend Discount Model S&P 500 (potential fair value)
• DAX-Stand von unter 10.000 (13. März 2020)
• Valuation US-Stock-Market (March 2020)
• Fed Balance sheet and the S&P 500 (April 2020)
• Free Cash Flow (ADBE, AMZN, FB, NVDA, PYPL)
• Excess CAPE Yield (ECY)
• DAX-Potenzial im Jahr 2022
• S&P 500 "Fair-Value Model" (Cost of Capital ca. 8%)

Valuation S&P 500 (quick n dirty)

Source for the data below: FactSet, Standard & Poor’s, Tullett Prebon, J.P. Morgan Asset Management. The P/E ratios are forward P/E ratios.

Forward P/E ratio is a bottom-up calculation based on the most recent price data divided by the mean consensus estimates for earnings in the next 12 months and is provided by FactSet Market Aggregates (Data as of 31 December 2016). To put the P/E ratio into historical perspective one can take a look into the last decades, to be more precise: the period from 1990 up to December 2016: