In Latin America, Mirae urges caution on the over-valued consumer sectors, especially in Brazil.
Special Offer: Dividend yields give excellent clues about whether a stock is under- or over-valued.
We generally look for these crazy obviously over-valued situations not on the IPO, but six months afterward.
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But merger waves also tend to coincide with periods when share prices are high and, arguably, over-valued.
In summary, we think we have a get-rich-slowly, safe, defensive long book and a get-rich-quickly, massively over-valued short book.
They may thus, say the three economists, have been buying in order to exchange over-valued equity for real assets.
The parallels, he has suggested, are there for all to see, especially because shares are over-valued through speculation by investors.
The main threat to the housing market is that house prices remain over-valued, whether for first-time buyers, buy-to-let investors or owner-occupiers.
The same effect held true for other auction items, with the result that relaxed participants over-valued items by an average of 15%.
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In terms of the real economy, the Swiss currency certainly looks over-valued.
House prices are already 25-30% over-valued in relation to income, their main long-run determinant, according to John Hawksworth, an economist at PricewaterhouseCoopers, an accountancy firm.
Managers of over-valued firms may also have used the freedom conferred by high equity prices to make deals that they would not otherwise have done.
The Vancouver Canucks are in the process of trying to flip Luongo to a willing team but are having trouble finding suitors because of his ridiculously over-valued contract.
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Moffett adds that on a stand-alone basis, Sprint looks over-valued.
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Already, by almost any measure, house prices are considerably over-valued.
Meanwhile, that slowing growth means that Facebook is over-valued.
House prices have already fallen by around 10% in the US by some measures, and the IMF says that they may be over-valued by more than 20% in the UK, Ireland and Spain.
Lastly, the Fed could buy foreclosed properties from GSEs, which would not only help slow the decline in home prices, but also allow the Fed to hold under-valued housing assets rather than over-valued treasuries.
In fact, since defensive stocks and sectors are touted so heavily by Wall Street near market tops, driving their prices to more over-valued levels than other stocks, their subsequent declines often exceed the decline of the rest of the market.
That in turn usually results in the economy being overheated, and the stock market being over-valued again, and the cycle repeats, with the next administration then allowing those excesses to be corrected in the first two years of its term.
Since we know that the basic point, that Cypriot (or Spanish etc) households are richer than German ones must be wrong then, therefore, what it is really showing is how over-valued the Cypriot or Spanish euro is, or how undervalued the German one.
Does this mean that high yield bonds are over-valued? (likely), that Treasury bonds are over-valued, since high yield bonds are priced as a spread above Treasuries? (very likely), and that high quality stocks in a universe of mostly overvalued liquid assets are relatively cheap? (likely).
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Mark Isherwood (Conservative) asked what the First Minister was doing to represent the real concerns of the over-burdened and under-valued Welsh business sector?
BBC: NEWS | Programmes | BBC Parliament | Wales: First Minister's Questions (05/05/04)
He thinks it's over valued relative to short- term growth prospects.
Where partisanship becomes dangerous - and this is the powerful message of the film "The Lives of Others" - is when it is valued over ability.
In Germany, where half the gross domestic product comes from exporting companies such as Siemens, chemical makers like BASF or carmakers like Volkswagen and Porsche, hard-to-find skilled workers with training and certain qualifications are valued over temporary staff.
With help from Jeffrey Parkhurst, managing director of business strategy at Mindshare, a WPP-owned media agency, we valued the brands by looking at brand earnings over the past three years, subtracting a charge for the capital employed and then taking a percentage of earnings based on the role brands play in each industry.
Given the vulnerability of paper and print before the arrival of the internet, it is not surprising that those who valued the transmission of information over time included oral or experiential transmission of skills in all kinds of hands-on, practical settings among the sources of lasting knowledge to be treasured.
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