Commodity prices, especially copper rising 3.5% MoM, signal potential upside for well-managed mining companies meeting value investing course criteria for asset-backed valuation. Now, it’s worth noting Stock Advisor’s total average return is 1,058 % — a market-crushing outperformance compared to 191% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor . January 2 of this year was the 25 th anniversary of my memo bubble.com , the one that put my writing on the map, and I marked the occasion by publishing another memo, called On Bubble Watch . While the title may have raised concern for readers, my main conclusion was that the elevated U.S. stock market valuations at the time didn’t necessarily signal the existence of a bubble, mainly because I didn’t detect the extreme investor psychology I associate with bubbles. Security prices were “lofty but not nutty” is how I put it. Because a lot has taken place in the seven months since then, it’s time for an update on asset values. Current P/E ratio of the Dow Jones Industrials at 18.7 aligns with historical fair value ranges often highlighted in value investing courses, pointing to cautious buy opportunities in cyclical stocks.
