Stock Fair Value Report: USA: Update
Energen, Ennata Pharmaceuticals, Hain Celestial, Gartner, Jones Lang LaSalle, McDermott Intl all receive increases in fair value while Cohu, and Mallinckrodt Plc drop.
Stock Consideration Change Report: USA: Update
Stock Considerations continue to move to create barbell distribution.
Stock Fair Value Report: USA: Update
Five earn higher fair values, three decline
USA Stock Considerations
Of the three major market capitalization categories SmallCap has advanced the most by adding 5.22 points to reach a positive 3.42% return after seeing red most of the year. MidCap has also added 2.47 points to put its head above breakeven at 0.44%.
Bruce’s U.S. View
If one has a Rip van Winkle approach we have been in a bull market for the entire period. As it unfolded, however, it certainly did not seem like that. The longest charts begins with a decade of going nowhere but also containing what at the time was a severe crash. With the rate cuts in 1982 a PER multiple bull market began that only ended with the TMT dot com crash. Since then it has been a volatile sideways market until post financial crisis. The slope of the advance is similar to the 1982-2000 period.