Monthly Archives: July 2010

Australian property prices are at historic highs. Earning yields are so low that there is no realistic scenario that a medium to long term investment can provide a good return. Similar conclusions apply to buying a property to live in. Continue reading →

Tobin’s Q is a valuation model that can be very useful for timing stock market investments. It tells you when the stock market is overvalued and when it is undervalued. This means you can earn higher returns with much less risk than with buy-and-hold. However there are now two versions of Tobin’s Q, and they tell very different stories about the current valuation of the US Stock Market. Continue reading →