The Federal Reserve Board does not make a practice of announcing when the stock market is in the midst of a speculative bubble. It officially notes deviant market behavior only well after the event, when it is too late for investors. Most shareholders will not realize they are now in hazardous times — this […]

The US equity market may now be moving into a new phase dominated by massive arbitrage between the value of equities with and without stock buybacks. As described in the article “US Equities: Wildly Over-Priced or a Great Bargain?“, the half-trillion dollar annual buyback craze that rules American equities has caused a gap to open between […]

If you are a long-term investor, holding your retirement nest egg in a diversified portfolio of US stocks, perhaps in an IRA or 401(k) plan, experts and the facts now suggest that your retirement assets are probably substantially over-valued in today’s stock market. Many equity investors are not nearly as well off as they think — […]