2020 Investment Outlook Seminar references
Information sources for 2020 Investment Outlook Seminar references and charts
Click here to view the 2020 Investment Outlook Seminar.
An earlier version of this video included a statement from Steve Giles mistakenly quoting the earnings yield on the S&P 500 as 6.5% based on a P/E of 22. The video has been updated to reflect the correct earnings yield of 4.5% based on a P/E of 22 using data available from Refinitiv I/B/E/S at the time of filming. Landaas & Company regrets this error.
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- Earnings data from Refinitiv: “I/B/E/S data from Refinitiv (as of 9/30/2020)”
- Fidelity study as quoted in the Wall Street Journal: “Investors Approaching Retirement Face Painful Decisions” Posted 06/15/2020 and accessed 10/06/2020
- 10% correction in Nasdaq as quoted in Washington Post: “Tech sell-off slashes 10 percent off Nasdaq in three days; Tesla tanks after S&P 500 snub” Posted on 9/8/2020 and accessed on 10/06/2020. Data on Nasdaq correction also available directly from Nasdaq
- Lapse of $600 Unemployment Benefit as written in WSJ: “Lapse in Extra Unemployment Benefits to Hurt U.S. Recovery, Economists Say” posted on 8/5/2020 and access on 10/06/2020
- Total non-farm payroll data from U.S. Bureau of Labor Statistics (as of 9/30/2020)
- Earnings data from Refinitiv: “I/B/E/S data from Refinitiv (as of 9/30/2020)”
- Interest Rate data from: Board of Governors of the Federal Reserve System (as of 9/30/2020)
- Earnings data from Refinitiv: “I/B/E/S data from Refinitiv (as of 9/30/2020)”
- Growth vs. Value forward P/Es from Barrons 9/14: “Wall Street Strategists Say There are Few Gains Ahead for the S&P 500. Here’s What Else They Expect” updated 9/14/2020 and accessed on 10/06/2020) Updated from JPMorgan Guide to the markets (as of 8/31/2020) and with data from Russell Investments (as of 8/31/2020)
- FAAMG 24% of the S&P 500 from Wall Street Journal: “Why Did Stock Markets Recover from COVID in Record Time? Here are Five Reasons” posted on 9/15/2020 and accessed on 10/06/2020. Also noted in Barron’s: “The Stock Market Bubble-and how to play it” last updated 9/14/2020 and accessed on 10/06/2020
- Oil prices plunge according to data from CME Group (as of 09/30/2020). Also noted in Financial Times: “Oil Dragged Under $40 by drab demand” posted on 10/2/2020 and accessed 10/6/2020
- Break-even prices for frackers: “Big Fracking Profits at $50 a Barrel? Don’t Bet on It” posted on 12/04/2018 and accessed 10/6/2020
- Small Caps not this cheap relative to large cap in decades from CNBC: “Small caps haven’t been this cheap compared to large stocks in nearly two decades – how to play it” posted on 04/09/2020 and accessed 10/6/2020
- Number of companies shrinking from Institutional Investor: “The Consequences of Shrinking Public Markets” posted on 08/17/2020 and access 10/6/2020
- Apple is bigger than Russell 2000 index from Wall Street Journal: “Why Did Stock Markets Recover from COVID in Record Time? Here are Five Reasons” posted on 9/15/2020 and accessed on 10/06/2020
- Growth vs. Value last ten years data from Russell Investments
- U.S. stocks outperformance of Non-U.S. from Standard & Poor’s and MSCI
- Stocks cheaper in Europe and Japan according to data from FactSet and MSCI, accessed via JPMorgan Guide to the Markets (as of 09/30/2020)
- Buffet investing in Japan from Barron’s: “Warrant Buffett is Betting on Japanese Stocks. Here’s How You Can Too” updated on 9/8/2020 and accessed 10/6/2020
- COVID Data from John Hopkins University accessed on 10/6/2020
- Interest Rate data from: Board of Governors of the Federal Reserve System (as of 9/30/2020)
- Jay Powell says Fed won’t raise rates for three years from WSJ: “Fed Officials Project No Rate Increases Through 2022” updated 6/10/2020 and accessed 10/6/2020
- 10-Year Break-even inflation rate source: Federal Reserve Bank of St. Louis (as of 9/30/2020)
- Stocks and bonds similar returns over last 10-years from WSJ: “Will Stocks Trail Bonds Over the Next Decade?” updated 06/07/2020 and accessed 10/06/2020)
- S&P 500 and MSCI data on outperformance of U.S. stocks relative to Non-U.S. stocks
(initially posted October 15, 2020)
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