Go for it! All is good. http://scottgrannis.blogspot.com/2013/03/the-case-for-optimism.html
The Hook? http://www.hussmanfunds.com/wmc/wmc130325.htm
Both q and CAPE include data for the year ending 31st December, 2012. At that date the S&P 500 was at 1426 and US non-financials were overvalued by 44% according to q and quoted shares, including financials, were overvalued by 52% according to CAPE. (It should be noted that we use geometric rather than arithmetic means in our calculations.)
As at 12th March, 2013 with the S&P 500 at 1552 the overvaluation by the relevant measures was 57% for non-financials and 65% for quoted shares.
Although the overvaluation of the stock market is well short of the extremes reached at the year ends of 1929 and 1999, it has reached the other previous peaks of 1906, 1936 and 1968. http://www.smithers.co.uk/
Creeping Danger Zone:
Don’t worry about Cyprus; it is country specific.
Security Analysis (1940) Notes
Thanks to a GENEROUS reader: Security_Analysis_2nd_Edition_Notes (70 pages)