{"id":9783,"date":"2014-05-07T23:16:04","date_gmt":"2014-05-08T03:16:04","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=9783"},"modified":"2014-05-07T23:16:04","modified_gmt":"2014-05-08T03:16:04","slug":"is-the-market-overpriced-episode-ii","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/07\/is-the-market-overpriced-episode-ii\/","title":{"rendered":"Is the market overpriced? Episode II"},"content":{"rendered":"

Using Warren Buffett’s favorite broad market valuation metric of market capitalisation over GDP*, we can see valuations are on the high side, near to levels from early 2006, but nowhere near the alarming bubble of two years later. The Dotcom bubble (not shown) was even more severe<\/a>.<\/p>\n

\"NYSE<\/p>\n

*I have used GNP (or GNI as some call it) as this more accurately includes offshore income.<\/p>\n

Australian investors will be relieved to find the ASX, at 100, reflects fair value. Even if we ignore the 2007 property\/resources bubble.<\/p>\n

\"ASX<\/p>\n","protected":false},"excerpt":{"rendered":"

Using Warren Buffett’s favorite broad market valuation metric of market capitalisation over GDP*, we can see valuations are on the high side, near to levels from early 2006, but nowhere near the alarming bubble of two years later. The Dotcom bubble (not shown) was even more severe. *I have used GNP (or GNI as some … <\/p>\n

Continue reading “Is the market overpriced? Episode II”<\/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":[40,57,34],"tags":[1524,1577,2234,3642],"class_list":["post-9783","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","category-us-canada-countries-regions","tag-gdp","tag-gnp","tag-market-capitalization","tag-warren-buffett"],"yoast_head":"\nIs the market overpriced? Episode II - 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=\"Is the market overpriced? 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Nobel laureate Robert Shiller this week commented that he was no longer buying stocks as he\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13774,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/25\/are-us-stocks-really-over-valued-2\/","url_meta":{"origin":9783,"position":1},"title":"Are US stocks really over-valued?","author":"ColinTwiggs","date":"June 25, 2015","format":false,"excerpt":"Let us start with Warren Buffet's favorite market valuation ratio: stock market capitalization to GDP. I have modified this slightly, replacing GDP with GNP, because the former excludes offshore earnings \u2014 a significant factor for multinationals. The ratio of stock market capitalization to GNP now exceeds the highs of 2005\/2006,\u2026","rel":"","context":"In "Market Insights"","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"US stock market capitalization to GNP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11979,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/06\/25\/are-us-stocks-really-over-valued\/","url_meta":{"origin":9783,"position":2},"title":"Are US stocks really over-valued?","author":"ColinTwiggs","date":"June 25, 2015","format":false,"excerpt":"Stock Market Capitalization Let us start with Warren Buffet's favorite market valuation ratio: stock market capitalization to GDP. I have modified this slightly, replacing GDP with GNP, because the former excludes offshore earnings \u2014 a significant factor for multinationals. The ratio of stock market capitalization to GNP now exceeds the\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"US stock market capitalization to GNP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-06-25-marketcap-gnp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":31638,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/03\/23\/the-stock-market-mania\/","url_meta":{"origin":9783,"position":3},"title":"The stock market mania","author":"Colin Twiggs","date":"March 23, 2022","format":false,"excerpt":"Stan Druckenmiller says that the bull market reminds him of the Dotcom boom, but he cautioned that asset prices could continue rising for a while: \"I have no doubt that we are in a raging mania in all assets.\" Jeremy Grantham describes the market as \"a fully fledged epic bubble\":\u2026","rel":"","context":"In "GDP and Activity"","block_context":{"text":"GDP and Activity","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/gdp-and-activity\/"},"img":{"alt_text":"Market Cap\/Corporate Profits After Tax","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-22-mktcap-npat.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-22-mktcap-npat.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-22-mktcap-npat.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-22-mktcap-npat.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":26199,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/07\/sp-500-trend-when-will-it-end\/","url_meta":{"origin":9783,"position":4},"title":"S&P 500 trend: When will it end?","author":"Colin Twiggs","date":"June 7, 2021","format":false,"excerpt":"\"The trend is your friend except at the end where it bends.\" ~ Ed Seykota We all know or suspect that stocks are over-priced. Not only are stocks like GME and AMC obvious examples of irrational exuberance but market pricing multiples -- like Warren Buffett's favorite stock market capitalization over\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23695,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/01\/16\/big-spending-bernie-and-the-stock-market-bubble\/","url_meta":{"origin":9783,"position":5},"title":"Big Spending Bernie and the stock market bubble","author":"Colin Twiggs","date":"January 16, 2021","format":false,"excerpt":"Daily new cases of COVID-19 appear to have peaked, falling to 235 thousand on January 14th. But the daily death rate continues to climb and may do so for several more weeks. Jobs recovery has stalled, with initial claims jumping to 965 thousand for the week ended January 9th, while\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9783","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=9783"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9783\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=9783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=9783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=9783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}