Now seems like a prudent time to sneak out a report tweaking my valuation metrics in a way that is somewhat bullish. This has no effect on my strategy (currently neutral equities), because valuation is a very rough concept and because the premise underlying the notion that valuation is fair to the macro backdrop is currently being challenged to some extent. But on the off chance that things settle down and I decide to get more optimistic, I will probably prefer to have published these tweaks already.
This report is not high priority. Come Monday, the market is not going to be debating if and how the earnings yield should be adjusted for my proxy of potential GDP growth. FH-180325