Valuation Bonanza – March 2014

Margin Debt New Record (FINRA)

ABOOK Mar 2014 Valuations FINRA Margin Debt

Stock Margin Accounts Net Worth (total margin debt minus free cash balances and credit) Finally Surpasses Dot-com Peak

ABOOK Mar 2014 Valuations FINRA Net Worth

Rate of Change In Net Worth

ABOOK Mar 2014 Valuations FINRA Net Worth Change

Total Margin Debt Scaled to Nominal GDP

ABOOK Mar 2014 Valuations FINRA to GDP

Shiller CAPE

ABOOK Mar 2014 Valuations CAPE

Tobins Q (market value of corporate equities divided by corporate net worth)

ABOOK Mar 2014 Valuations Tobin

Corporate Equities Scaled to GDP

ABOOK Mar 2014 Valuations Stocks 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.

 

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On March 11th, 2014, posted in: Markets, Stocks by Tags: , , , , , , ,
One Response to Valuation Bonanza – March 2014
  1. [...] I maintain is the sole imprint of QE on the real economy (the financial economy is another matter altogether). The just-released February retail sales figures are worse than January, by quite a bit, even in [...]

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