EFTA01176566Set 9
2012-05-024p3,235w
Market I May 2, 2012 J.P.Morgan
Topics: how lonely a road is Europe traveling; Graham-Dodd and Shiner US equity valuation measures; casual reading
Europe and the road less traveled ... Market I May 2, 2012 IPMorgan
Topics: how lonely a road is Europe traveling; Graham-Dodd and Shiller US equity valuation measures; casual reading
US equity valuations: how do Graham ... long as you know what's inside. Some clients have asked me about the Graham-Dodd
approach to equity valuation, and the implication that S&P 500 earnings
https://www.justice.gov/epstein/files/DataSet%209/EFTA01176566.pdf
EFTA01176561Set 9
2012-05-025p3,193w
easier to read, particularly thefirst chart)
Topics: how lonely a road is Europe traveling; Graham-Dodd and Shiller US equity valuation measures; casual reading
Europe and the road less traveled ... justify investment given the challenges of the European project.
US equip valuations: how do Graham-Dodd and Shiller P/Es work, what are the inherent assumgfigge.
Despite all the numbers, equity ... long as you know what's inside. Some clients have asked me about the Graham-Dodd
approach to equity valuation, and the implication that S&P 500 earnings
https://www.justice.gov/epstein/files/DataSet%209/EFTA01176561.pdf
EFTA01071135Set 9
2012-10-095p3,351w
worth in historical context.
The traditional version of the Graham-Dodd/Shiller model makes equities look a bit expensive, cheaper only than the
1990's valuation bubble ... short, anchoring expectations in
the immediate past is a potential problem with the Graham-Dodd/Shiller approach.
ley
Graham-Dodd/Shiller valuation approach: expensive S&P 500 reported earnings drawdowns ... cheaper than they have been in 60 years. [Quite a
different answer than Graham-Dodd, right? These models rely on perpetuity formulas, and are very sensitive to their inputs
https://www.justice.gov/epstein/files/DataSet%209/EFTA01071135.pdf