Where in the U.S. Are Homes Underwater? (Map)

Friday, May 25th, 2012

Tags: Atlantis, Barry Ritholtz, Home Values, Interactive Map, Mortgages, Nbsp, Negative Equity, U S Home, United States, Zip Code
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Interactive Map of Global PE and Price to Book Ratios

Wednesday, February 2nd, 2011

Isaac Presley at Seeking Delta sent me an excel spreadsheet of Price/Earning, Price/Book and Price/Sales ratios for 71 countries. Click on the above link to see his post.
Using Presley’s data, Ross Perez and Ellie Fields at Tableau Software created the following interactive map. It is difficult to see all 71 countries at once so the initial view is the G-20.

Please give the map about 10 seconds or so to load. Hover your cursor over any circle or any line on the data (except the name of the country itself) to see additional details.

Caveats

Case-Shiller 10-Year normalized PE ratios are a far better measure of value. Unfortunately, we do not have that data for every country. As an example, however, the Case-Shiller PE ratio for the US is currently 23.

On a price-to-book ratio, Japan is the best value by far in the G-7. Once again however, these metrics assume accurate book values. I am not particularly apt to agree with most of them.

Absolute vs. Relative Values

The idea that one should buy “relative values” just to buy something is flawed. Yet, except for Japan with a price-to-book value near one, with most corporate debt wiped off corporate books, I see little “absolute value” elsewhere.

The problem with Japan is the Yen. To invest in Japan one needs to hedge that Yen exposure or a declining Yen could wipe out most equity gains.

Meanwhile the market grinds higher and higher.

Bernanke has succeeded in creating another bubble in equities, junk bonds, and leveraged-buyouts. From any realistic perspective, this is one strenuously overvalued equity market, globally, yet nothing prevents the bubble from getting bigger.

The greater fool’s game is in full swing. When it stops is anyone’s guess. I sure don’t know.

Mike “Mish” Shedlock

http://globaleconomicanalysis.blogspot.com

Tags: Absolute Value, Bernanke, Book Ratio, Book Values, Caveats, Corporate Debt, Ellie, Equity Value, Excel Spreadsheet, Full Swing, Initial View, Interactive Map, Junk Bonds, Leveraged Buyouts, Mish Shedlock, Pe Ratio, Pe Ratios, Realistic Perspective, Relative Values, Tableau Software
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Tracking China’s Deals

Thursday, April 29th, 2010

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This article is guest contribution by Frank Holmes, U.S. Global Investors.

While the rest of the world suffered through its worst financial crisis in a half century, China went shopping. Since 2005, China has made 185 deals worth $100 million or more, totaling more than $222 billion.

The largest of these deals was the $12.8 billion joint venture between Chalco and Alcoa made to purchase 12 percent of Rio Tinto back in 2008. This deal was struck in Australia which has been China’s most popular destination both in terms of quantity and dollar amount.

Indicative of the large future the Chinese government has in store for its country, the most popular sectors for these deals have been metals and energy, respectively.

Forbes just published an interesting interactive map based on data from the Heritage Foundation detailing these transactions.

click for larger image

As you view the presentation, pay special attention to how the pace picks up. By the second half of 2009, China is averaging more than seven $100 million deals a month.

You can check out the full interactive version at Forbes.com

Tags: Alcoa, Chalco, China, Chinese Government, Financial Crisis, Forbes, Frank Holmes, Heritage Foundation, Interactive Map, Interactive Version, Joint Venture, Metals, Pace, Rest Of The World, Rio Tinto, Second Half, Sectors, Shopping, Tracking Email, U S Global Investors
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