New Book is Out!

My new book is finally available on Amazon!  Here is the link:

Global Value:  How to Spot Bubbles, Avoid Market Crashes, and Earn Big Returns in the Stock Market

We self published it in the same format as Shareholder Yield, although it is longer around 80-90 pages. 

I would recommend reading it on a device (computer, iPad, Kindle Fire) that supports color, as there are about 40 charts and figures. As always, all the subs of The Idea Farm get a free copy.

A physical version will likely be out in a week or two once I see the proofs.

Let me know what you think, and as always, please leave a review on Amazon!

Here is the book homepage , and below is a short description of the content.

Summary blurb:

Investment bubbles and speculative manias have existed for as long as humans have been involved in markets. Is it possible for investors to identify emerging bubbles and then profit from their inflation? Likewise, can investors avoid the bursting of these bubbles, and the extreme volatility and losses found in their aftermath to survive to invest another day? 

Over 70 years ago, Benjamin Graham and David Dodd proposed valuing stocks with earnings smoothed across multiple years. Robert Shiller later popularized this method with his version of the cyclically adjusted price-to-earnings (CAPE) ratio in the late 1990s and correctly issued a timely warning of poor stock returns to follow in the coming years. We apply this valuation metric across more than 40 foreign markets and find it both practical and useful. Indeed, we witness even greater examples of bubbles and busts abroad than in the United States. We then create a trading system to build global stock portfolios, and find significant outperformance by selecting markets based on relative and absolute valuation. 


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