Valuation Bonanza – March 2014
Margin Debt New Record (FINRA)
Stock Margin Accounts Net Worth (total margin debt minus free cash balances and credit) Finally Surpasses Dot-com Peak
Rate of Change In Net Worth
Total Margin Debt Scaled to Nominal GDP
Tobins Q (market value of corporate equities divided by corporate net worth)
Corporate Equities Scaled to GDP
Does any of this scream new bull market? Unless there really is a new normal this time, everything here looks like the final stage – however long that might take to play out.
Click here to sign up for our free weekly e-newsletter.
“Wealth preservation and accumulation through thoughtful investing.”
For information on Alhambra Investment Partners’ money management services and global portfolio approach to capital preservation, contact us at: firstname.lastname@example.org