ST Alpha - "Gluskin Sheff�s David Rosenberg;" (Reading a Post)

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Gluskin Sheff�s David Rosenberg;

Posted by Loyola Jul 7 '09, 16:16

"After all, the forward P/E multiple on the S&P 500 at the lows was 11.7x. That was not a multi-decade low or some massive standard deviation figure � we were actually lower than that at the October 1990 lows when the multiple was 10.5x and frankly, coming off the 1987 collapse, the forward P/E had compressed to 9.8x. As it now stands, the multiple is back very close to where it was at the October 2007 market high, when the multiple had expanded to 15.0x. The range on the forward P/E over the last quarter-century is between 9.8x and 21.8x (excluding the tech bubble), so at 14.5x currently, it is hardly the case that this market can be viewed as a bargain."

http://ftalphaville.ft.com/blog/2009/07/07/60806/the-notion-that-we-had-moved-to-armageddon-lows-in-equities-does-not-seem-to-hold-water/ (ftalphaville.ft.com)

Responses:

To sum up: "In other words, it is unlikely that we have crossed the Rubicon into new bull market terrain." -- nm - Mop (still 235lbs... on a good day) Jul 7, 16:20 19
- Related, are there any more phrases like crossing the Rubicon, beyond the Pale, etc. I was trying to think of more the other day for something. - Loyola Jul 7, 16:22 18
  - "Caught the last train for the coast" (sort of); "Blow this pop-stand." There is one about Mt. Etna, too, something... - second gary Jul 7, 17:42
  - it takes a village -- nm - peglegpete Jul 7, 16:37
  - USC. -- nm - the liioulu with paper Jul 7, 16:29
  - "sold down the river". Refers to slaves and the Mississippi. -- nm - loosilu Jul 7, 16:24 3
    - Sold down the Mississippi is good. -- nm - Loyola Jul 7, 16:26 2
      - down the *river*. :) -- nm - loosilu Jul 7, 16:28 1
        
        I know. I changed it. :) -- nm - Loyola Jul 7, 16:30
  - damn you, I'm going to be thinking of this all evening now. -- nm - loosilu Jul 7, 16:23 10
    - There has to be one maybe about crossing into Indian territory, I was thinking. Frontier expansion, stepping where you shouldn't. -- nm - Loyola Jul 7, 16:25 9
      - There's getting out of Dodge. (Dodge City, KS) -- nm - loosilu Jul 7, 16:28 8
        
        "Go West, young man." "We're not in Kansas anymore." (are these along the same lines?) -- nm - Mop (still 235lbs... on a good day) Jul 7, 16:31 2
        
        Forget it Jake, it's Chinatown. -- nm - Mop (still 235lbs... on a good day) Jul 7, 16:31
        
        good ones. -- nm - loosilu Jul 7, 16:31
        
        You're good. Keep going. -- nm - Loyola Jul 7, 16:29 4
        
        going for a walk now, will have to think. -- nm - loosilu Jul 7, 16:30 3
        
        "Leaving Memphis" Though I think that was a film. -- nm - Loyola Jul 7, 16:32 2
        
        What happens in Vegas... -- nm - Mop (still 235lbs... on a good day) Jul 7, 16:44 1
        
        Going off the reservation. -- nm - Loyola Jul 7, 16:45

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Gluskin Sheff�s David Rosenberg;

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