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April 04, 2007



Hi Barry,

Thanks for the HTML tip! I think we have it fixed now. It did not look as bad in FireFox as it did on IE.

The "fair value" calculation is just the forward earnings divided by the ten-year rate. It is what the S&P would be if the expected earnings yield was the same as the ten year.

The original data was from Thomson and the Fed, compiled on Dr. Ed Yardeni's site when it was public. We got our own data to extend the series.

Thanks again.



I don't know what model Jeff uses, but here's a suggestion:

Barry Ritholtz

what shows up as a double quotation mark should be the letters "Ampersand-N-B-S-P-semicolon"

the extra tags I mentioned were:
open caret, b, forward slash close caret.

Barry Ritholtz

Jeff --

How do you derive fair valuein your measures? I can look at interest rates and earnings (actual and forecast) -- but I don't see how you made the leap to over/under valuation.

Also, I get the same weird typepad glitch with tables -- you get a huge gap.

It looks like you have quite a few "" tags in your table. If you go to the post and click on the Edit HTML tab, try removing every instance you see from to , this will resolve that white gap (you may want to remove the extra tags as well.)


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