Professor Siegel Is At It Again
In his Yahoo article from a week or so ago, Siegel tells us stocks are dirt cheap. Let's put Siegel's remarks into perspective. We first discussed Siegel's new math irregularities in a lengthy post just months before the stock market peaked. In that post we highlighted this remark.
"Yet I believe the opposite is true and think that the current valuation of the stock market is very favorable for investors" -- Dr. Jeremy Siegel, Professor of Economics at the University of Pennyslvania (Wharton) April 30, 2007
Siegel used a rather arcane rationalization as to why stocks were cheap in the article I cited for that post. Since then global markets have had their most rapid collapse in history. Siegel top ticked global equities with his remarks. And, likely did so for a period of ten to twenty years. Siegel's most recent analysis highlights a statement I made on here last week in the Crocs post. Income statement analysis embraced by most on Wall Street, and used by Siegel in this article, is a fallacy.
How much does an MBA at Wharton cost? $60,000 - $80,000 a year including living expenses? More? No wonder Wall Street is a mess. What are they teaching at our top institutions of financial learning?
"Yet I believe the opposite is true and think that the current valuation of the stock market is very favorable for investors" -- Dr. Jeremy Siegel, Professor of Economics at the University of Pennyslvania (Wharton) April 30, 2007
Siegel used a rather arcane rationalization as to why stocks were cheap in the article I cited for that post. Since then global markets have had their most rapid collapse in history. Siegel top ticked global equities with his remarks. And, likely did so for a period of ten to twenty years. Siegel's most recent analysis highlights a statement I made on here last week in the Crocs post. Income statement analysis embraced by most on Wall Street, and used by Siegel in this article, is a fallacy.
How much does an MBA at Wharton cost? $60,000 - $80,000 a year including living expenses? More? No wonder Wall Street is a mess. What are they teaching at our top institutions of financial learning?
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