SoGen “Bruised Bears” Shows US Most Overvalued Market

the Curmudgeon

Selected slides from a Societe Generale (SoGEN) "Bruised Bears" presentation, 10 January 2017, London:  

Effect of QE on US equity market, US/Europe/Japan Stock Market Valuations (Price/Book), Why So Many Were Short the Russell 2000, and US Corporate Inequality.






Charts Courtesy of Societe Generale


Good luck and till next time...

The Curmudgeon


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Curmudgeon is a retired investment professional.  He has been involved in financial markets since 1968 (yes, he cut his teeth on the 1968-1974 bear market), became an SEC Registered Investment Advisor in 1995, and received the Chartered Financial Analyst designation from AIMR (now CFA Institute) in 1996.  He managed hedged equity and alternative (non-correlated) investment accounts for clients from 1992-2005.

Victor Sperandeo is a historian, economist and financial innovator who has re-invented himself and the companies he's owned (since 1971) to profit in the ever changing and arcane world of markets, economies and government policies.  Victor started his Wall Street career in 1966 and began trading for a living in 1968. As President and CEO of Alpha Financial Technologies LLC, Sperandeo oversees the firm's research and development platform, which is used to create innovative solutions for different futures markets, risk parameters and other factors.

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