{"id":14637,"date":"2016-12-08T21:37:38","date_gmt":"2016-12-09T02:37:38","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=14637"},"modified":"2016-12-08T21:37:38","modified_gmt":"2016-12-09T02:37:38","slug":"are-stocks-overpriced","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/12\/08\/are-stocks-overpriced\/","title":{"rendered":"Are stocks overpriced?"},"content":{"rendered":"<p>Some good discussion on our <a href=\"https:\/\/forum.incrediblecharts.com\/messages\/427230\/915471.html#POST183237\">forum<\/a> regarding current high stock valuations, based more on hopes than on earnings.<\/p>\n<p>This chart of Price-Earnings ratios highlights the problem. PEs for both the MSCI World Index (ex-Australia) and the ASX 200 are close to historic highs (after the Dotcom bubble).<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Price-Earnings\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-12-08-aus-peratio.png?w=525&#038;ssl=1\" alt=\"Price-Earnings\" \/><\/p>\n<p>Strong earnings growth would soon fix this but there is little sign of that at present.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some good discussion on our forum regarding current high stock valuations, based more on hopes than on earnings. This chart of Price-Earnings ratios highlights the problem. PEs for both the MSCI World Index (ex-Australia) and the ASX 200 are close to historic highs (after the Dotcom bubble). Strong earnings growth would soon fix this but &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/12\/08\/are-stocks-overpriced\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Are stocks overpriced?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,57],"tags":[251,2382,2750],"class_list":["post-14637","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-msci-world-index","tag-price-earnings-ratio"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Are stocks overpriced? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are stocks overpriced? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Some good discussion on our forum regarding current high stock valuations, based more on hopes than on earnings. This chart of Price-Earnings ratios highlights the problem. PEs for both the MSCI World Index (ex-Australia) and the ASX 200 are close to historic highs (after the Dotcom bubble). 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Stock market pricing indicates whether stocks are cheap or expensive in relation to earnings, but it is a poor indicator\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Bull-Bear Market Indicator","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-14-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-14-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-14-asx-bull-bear-gauge.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61257,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/01\/asx-weekly-market-snapshot-3\/","url_meta":{"origin":14637,"position":1},"title":"ASX Weekly Market Snapshot","author":"Colin Twiggs","date":"March 1, 2025","format":false,"excerpt":"The dial on the left indicates bull or bear market status, while the one on the right reflects stock market drawdown risk. Bull\/Bear Market The ASX Bull-Bear Market indicator remains at 64%, with two of five leading indicators signaling Risk-off, while the US leading index is at 60%: The ASX\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Bull-Bear Market Indicator","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-02-14-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-02-14-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-02-14-asx-bull-bear-gauge.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61014,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/02\/17\/asx-weekly-market-snapshot\/","url_meta":{"origin":14637,"position":2},"title":"ASX Weekly Market Snapshot","author":"Colin Twiggs","date":"February 17, 2025","format":false,"excerpt":"The dial on the left indicates bull or bear market status, while the one on the right reflects stock market drawdown risk. Bull\/Bear Market The ASX Bull-Bear Market indicator remains at 64%, with two of five leading indicators signaling Risk-off, while the US leading index remains at 60%: This was\u2026","rel":"","context":"In &quot;Active Investing&quot;","block_context":{"text":"Active Investing","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/active-investing\/"},"img":{"alt_text":"Bull-Bear Market Indicator","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-02-14-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-02-14-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-02-14-asx-bull-bear-gauge.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":39540,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/12\/14\/have-stock-prices-lost-touch-with-reality\/","url_meta":{"origin":14637,"position":3},"title":"Have stock prices lost touch with reality?","author":"Colin Twiggs","date":"December 14, 2022","format":false,"excerpt":"Robert Shiller's cyclically-adjusted PE (or CAPE) is at a similar level to the 1929 peak before the greatest crash in US history. CAPE uses a 10-year average of inflation-adjusted earnings in order to smooth out fluctuations in earnings. The current reading of 29.2 is almost double the low during the\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"US Stock Market Capitalization\/GDP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-12-mcap-gdp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-12-mcap-gdp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-12-mcap-gdp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":15288,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/15\/is-the-asx-over-priced\/","url_meta":{"origin":14637,"position":4},"title":"Is the ASX over-priced?","author":"ColinTwiggs","date":"May 15, 2017","format":false,"excerpt":"On the weekend I discussed how earnings for the S&P 500 have grown by roughly 6.0% over the last three decades but the growth rate should rise as stock buybacks have averaged just over 3.0% a year since 2011. In an ideal world the growth rate would lift to close\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62473,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/20\/asx-stock-pricing-still-extreme\/","url_meta":{"origin":14637,"position":5},"title":"ASX Stock Pricing still Extreme","author":"Colin Twiggs","date":"September 20, 2025","format":false,"excerpt":"The gauge on the left indicates bull or bear market status, while the gauge on the right reflects stock market valuation. Stock market pricing indicates whether stocks are cheap or expensive relative to earnings, but it is a poor indicator of market timing. We do not recommend selling stocks because\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Bull-Bear Market Indicator","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-12-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-12-asx-bull-bear-gauge.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-12-asx-bull-bear-gauge.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=14637"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14637\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=14637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=14637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=14637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}