Brett Cenkus
Traders Magazine Online News

Trump Won't Kill America, Bitcoin Will

In this shared piece, author Brett Cenkus argues that nation-states will cease to exist not because of a who, but a what - and it's already here.

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May 26, 2005

The Unexploited Values': Delphi Management's Scott Black Digs Deep for Margin of Safety

By Kathryn M. Welling

So the markets have a lot of excuses for muddling along. Stocks right now, as a homogenous group, are trading at about 16 times this year's earnings estimates. They are not way overpriced by historical standards. The problem is that interest rates are going to have to back up here to clear the markets on the massive amounts of debt that have been issued. On top of that, you can't point to any one particular industry and say, this one is vastly underpriced. The market as a whole is pretty picked over.

'The SunGard deal was nuts. Look at the price private equity firms paid. They are getting swamped with so much money they feel justified in overpaying'