Click on the pic below for the piece.
Starting valuations matter. Your age alone shouldn’t dictate allocation.
Domestic stocks are expensive and domestic small-caps especially so. High quality stocks (those businesses that can earn a consistently high return on capital over a full cycle and have low debt) are slightly better, but not much. International developed stocks are slightly better, but not much. Emerging markets stocks are the cheapest stocks in the world.
Is Yahoo! cheap? Is Alibaba expensive? Both? Brett Arends discusses. (Click on graphic below for his piece.)
Michael Lewis, reflections on Flash Boys, one year later…..
Henry Blodget says stocks are expensive, and has stopped reinvesting his dividends:
Our friend, Mebane Faber, says it’s a great time to be an investor. Asset allocation is a commodity, and you can get it cheaply now. He’s right.
Hmmmmm, if only asset prices were better….. Right now it seems as if you can get cheap access to overpriced securities…..
Brett Arends thinks it’s plausible that Apple can be a lux brand with its new watch. His piece is complete with a reference to the old Claymore/Robb Report Global Luxury ETF.