Market Update and PENCE!

Please see here...

https://www.advisorperspectives.com/dshort/updates/2019/10/01/the-q-ratio-and-market-valuation-september-update

This is the Q-Ratio...a measure of the book value of public companies versus their market value.

This ratio is supposed to be about 0.68.

It was 1.86 as of last month.

That is THREE standard deviations away from the norm.

The probability of anything being THREE standard deviations from its statistical norm is...get ready for this...

0.0029!!!

This is not supposed to happen.

Please see here as well...

https://www.zerohedge.com/health/first-time-crisis-companies-spent-more-buybacks-and-dividends-they-earned-its-all-downhill

Companies are now spending more on buybacks and dividends than they generate in free cash flow.

The last time they did this was...of course...just before the financial crisis in 2007.

I'm just saying...

P.S.! The Kurds just asked PENCE not TRUMP to enforce the ceasefire against the Turks.  

Say hello to the new boss, same as......