Today legendary investor Rob Arnott, who oversees more than $200 billion, warned King World News this bull market in US stocks is gliding along on a wing and a prayer.
May 16 (King World News) – Rob Arnott, Chairman of Research Affiliates: “This bull market in US stocks is gliding along on a wing and a prayer. Here’s a fun fact: last week, the S&P hit the lowest dividend yield in history — 1.05%. It got to 1.08% at the top of the Dot-com bubble. So, barely a 1% yield, and in a steady state environment, you would have to wait 95 years to get your money back. Well, that’s crazy. Growth stocks have a .4% yield, value stocks a 1.6% yield, that’s still pretty crappy.”
Eric King: “If you’re a Benjamin Graham value investor, that’s terrible.”
Rob Arnott: “It’s horrible. And then you look overseas at emerging markets, and they have a 3-3.5% yield. That’s not bad. Emerging markets has a 4% yield. That’s nice. Fundamental Index in emerging markets have a 5.5% yield. 5.5% yield and these are companies that are trading at about 8-9 times their 10-year average earnings. And so, if you are paying 8 times the 10-year average earnings, that’s fabulous. If you are getting a 5.5% yield, that’s fabulous. So these markets are very, very cheap. They would have to double just to…to listen to Rob Arnott discuss the US stock market bubble, what investors should be doing with their money, the economic shock from the Iran War as well as a massive inflation wave that is ahead of us CLICK HERE OR ON THE IMAGE BELOW.
Silver Buying Opportunity
To listen to Nomi Prins discuss the buying opportunity in gold, silver, and the mining stocks CLICK HERE OR ON THE IMAGE BELOW.
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