Down goes the Dow

I'd only we had a rational logical market you'd always be right, igloi.

I use actual numbers provided by the companies themselves, not Wall Street. Others here have already pointed out your vested interest in the Wall Street machine. You are not fooling anyone.

Panic,

I am sure over the short run you are correct. To paraphrase Benjamin Graham the market over the short term is a voting machine but over the long term a weighing machine. Since I first posted here 4/2/2015 the MSCI All Country World Index level is negative. As I pointed out earlier three weeks ago the Dow and S&P were below when I first posted. Earning during that period have declined while interest rates have risen.

I have been at this long enough to smell a rotten overvalued market. Several months ago President-elect Trump called the stock market "a big fat ugly bubble." Traditional valuation metrics of CAPE 10, Tobin's Q and the Buffett Indicator have the market two standard deviations above the norm.

So even the great Warren Buffett ignores his favorite market valuation model. Sure central bank easy monetary policy has driven the speculative extreme. Even TINA has been forgotten as the last excuse in favor of infrastructure spending.

Igy

Earnie,

You are obviously ignorant that the data you quote come frm FactSet a Wall Street entity.

Furthermore, you are ignorant to the fact that the only EPS required to be reported to the SEC is GAAP.

So you are the Wall Street tool.

Igy

False. I am ignorant of nothing that you claim. Thus you are the ignorant one.

As others have pointed out, you are a Wall Street shill. Your entire purpose is to fleece your Muppets from their hard earned money. Your efforts to distract us by pretending to be anti Wall Street are obviously contrived and disingenuous. You fool no one except your Muppet clients.

Hey Igy I am currently in Copenhagen, land of negative rates, and will be dining with a regulator tonight. It is fascinating to discuss matters firsthand. I am sure you understand that I cannot disclose specifics but I will say that expressions of national identity and individual psychology seem to matter most in the determination of which economic orthodoxy to use. Euros really have their issues and especially delusions. Off to Monaco tomorrow and will be with French, Russians and Chinese for different perspectives. This has been a great round over here with the Trump situation. Very revealing, it is like shining a UV light onto euro psychology

Maserati,

I would assume the Euro globalist view is under attack from all sides with Farrage, Putin and now Trump. Nationalism is fighting back, which put China in the middle wanting the benefits of globalism but maintain the continuity of the regime.

Have fun in Monaco. I collected stamps as a youngster. Always dreamed of visiting, perhaps some day.

Igy

Maserati wrote:

Hey Igy I am currently in Copenhagen, land of negative rates, and will be dining with a regulator tonight. It is fascinating to discuss matters firsthand. I am sure you understand that I cannot disclose specifics but I will say that expressions of national identity and individual psychology seem to matter most in the determination of which economic orthodoxy to use. Euros really have their issues and especially delusions. Off to Monaco tomorrow and will be with French, Russians and Chinese for different perspectives. This has been a great round over here with the Trump situation. Very revealing, it is like shining a UV light onto euro psychology

Summary: "I'm in Europe."

Earnie's Bible is a Wall Street propaganda organ:

https://en.m.wikipedia.org/wiki/FactSet

Norwalk, CT is NOT Wall Street.

Midtown Manhattan is.

https://en.m.wikipedia.org/wiki/Morgan_Stanley

Monaco is OK for sure but some smaller places around it are more authentic. Will talk about euro views when I get back and have time. Was also in Paris visiting family and went to where the migrants were, it is all cleaned up now and they have been dispersed around France, although some just moved closer to the river

Summary: "I like to hear myself talk."

Ha ha, Igy just keeps tripping over himself. He is the logical equivalent of clumsy.

Ghost of Igloi wrote:

Earnie,

You have been incorrect every time you have quoted EPS by only using non-GAAP numbers.

Those are legitimate, acceptable numbers. You may disagree with them, but they are not incorrect.

Oh no you dint wrote:

Ghost of Igloi wrote:

Earnie,

You have been incorrect every time you have quoted EPS by only using non-GAAP numbers.

Those are legitimate, acceptable numbers. You may disagree with them, but they are not incorrect.

I said he was incorrect, as in only giving partial information. Sure non-GAAP is used by corporations but GAAP EPS is the only number signed off by the CEO submitted to the SEC as accurate under penalty of imprisonment.

I find it interesting how you and your buddies have no comprehension of the importance of that fact.

Igy

Oh no you dint wrote:

Ghost of Igloi wrote:

Earnie,

You have been incorrect every time you have quoted EPS by only using non-GAAP numbers.

Those are legitimate, acceptable numbers. You may disagree with them, but they are not incorrect.

no dint,

You may want to educate yourself instead of being lead around by your nose. Your buddies know next to nothing about the subject. Here is a good article to start with although probably still over your head. You may want to pay special attention to the last sentence in the first paragraph.

Igy

Ghost of Igloi wrote:

Oh no you dint wrote:

Those are legitimate, acceptable numbers. You may disagree with them, but they are not incorrect.

I said he was incorrect, as in only giving partial information. Sure non-GAAP is used by corporations but GAAP EPS is the only number signed off by the CEO submitted to the SEC as accurate under penalty of imprisonment.

I find it interesting how you and your buddies have no comprehension of the importance of that fact.

Igy

Using your logic, you are "incorrect" by giving only GAAP numbers.

Please don't assume what I know and don't know. You know what they say about people who assume.

no dint,

You wouldn't say that if you knew anything about the topic.

Did you every question why the non-GAAP beat is nearly twice the level of the GAAP?

Start by reading the article and educating yourself.

Igy

Ghost of Igloi wrote:

no dint,

You wouldn't say that if you knew anything about the topic.

Did you every question why the non-GAAP beat is nearly twice the level of the GAAP?

Start by reading the article and educating yourself.

Igy

That has nothing to do with the topic. Why do you bring up a straw man argument?