One of the most widely watched measures of stock market value, the cyclically-adjusted price to earnings ratio (CAPE), has been giving off a screaming “sell” signal for the US market in the past few years. Last year it rose to a level not seen in its almost 140 year history, other than during the peak of dotcom hysteria. Market watchers everywhere have pointed to this as a warning sign that future returns are likely to be depressed. However, the past few months’ market declines have already brought it back from the abyss. Just as importantly, its calculation is being distorted by the lingering effects of the financial crisis so it is giving a misleading signal. Once you account for this, the US no longer looks so expensive after all. CAPE compares the stock market level with average earnings over the previous ten years, all in inflation-adjusted terms. The lower the figure, the better the value (although investors would be wise to consider a wider range of valuation … [Read more...] about Is this popular measure of stock market value giving a misleading “sell” signal?
Sales to stock ratio
(Reuters) - Intu Properties Plc scrapped its full-year dividend, as several high profile retail bankruptcies forced the shopping mall operator to diversify its tenants, and said it plans to look at disposing some assets to lower debt. Intu shares were 7.8 percent lower at 109 pence in early trade, taking the stock to the bottom of London’s midcap index. Blue chip rivals Hammerson Plc, British Land Company Plc and Land Securities Group Plc were also in the red. The property firm’s poor performance was exacerbated by several high profile closures on the High Street and company voluntary arrangements (CVA) including Toys R Us, House of Fraser, New Look and HMV that added to an ailing retail sector. “Intu has had a challenging year with a difficult retail and uncertain economic environment, together with responding to two abortive corporate offers for the company,” Chairman John Strachan said in a statement. The company is trying to lower its debt and will look … [Read more...] about Intu Properties scraps dividend; looking to cut debt, sell assets
With many startups seeking finance, innovative entrepreneurs seem fortunate: if they convince individual investors to inject money into their idea, they win an angel – a business angel. With just 50 business angels active in 2017, Romania still lags behind its European peers, but there are signals on the market that local business investors are willing to put their money into valuable and innovative ideas this year too. Business Review presents five of the most active local business angels to go into 2019. By Anda Sebesi, Ioana Erdei, Aurel Dragan Related: 7 things all entrepreneurs should know about angel investors According to the European Business Angels Network (EBAN) Statistical Compendium, the size of the visible and invisible business angel market in Europe increased to EUR 7.3 billion in 2017, up by 9 percent from 2016, keeping it the main equity market for early stage SMEs and European startups. By comparison, angel investment in the US has reached an estimated USD … [Read more...] about BR SPECIAL. Five business angels poised to fly in 2019
By Kate Youde Five stories making global property headlines: New York focus transfers from Manhattan Developers in New York are targeting areas such as Long Island City for high-end homes as outer boroughs outperform cooling Manhattan. Forbes reported that while the median sale price in Manhattan fell more than 4 per cent in the third quarter of 2018 to $1.117m, and dipped under $1m for the first time in three years in the fourth quarter, the median price in Brooklyn rose more than 2 per cent in the third quarter, to $808,000. The median price in Queens increased more than 4 per cent, to $573,500. Hong Kong keeps tight rein on loans Hong Kong has no plans to relax residential mortgage loan-to-value ratio requirements nor scrap cooling measures introduced to combat rising property prices, according to the territory’s chief executive, Carrie Lam. Following speculation that the government was considering relaxing mortgage rules to help first-time buyers, the South China … [Read more...] about From the rise of outer New York to Germany’s attractions for expats
IF YOU'RE in the market for a new 4K TV, you're in luck. We've rounded up where you can get a new tele the cheapest, including top brands such as Samsung, Toshiba and Hisense. Most new sets released by big manufacturers are capable of displaying the higher-quality footage. And although 4K films and TV shows are hard to come by at the moment, we reckon they'll be mainstream within the next few years as TV and film subscription packages upgrade. Thankfully, although 4K TVs are four times the quality of HD TVs, they're not four times the price. We've rounded up where you should be able to buy them for less below.Who has the best deals on 4K TVs? We recommend checking out a few of the options on this list to compare prices and check for flash sales. You can always use a price comparison site, but they can't usually keep up with prices and stock demands during sales periods. What is 4K, Ultra HD and UHD?Here's an easy guide to what 4K means... 4K, Ultra HD and UHD are all different names … [Read more...] about Where to buy a 4K TV the cheapest