How can we know if a stock-market is over or undervalued? In the Authers' Note below, Andrew Smithers explains the various ways in which we can assess whether a market is over or undervalued. He favours Tobin's Q and CAPE, both of which suggest that the market is 70% overvalued at the minute!
Michael Aldous and I had our book The CEO: The Rise and Fall of Britain's Captains of Industry published a few weeks ago. You can find out more about it and buy it at Cambridge University Press's website . It is also available at Amazon , Waterstones , and Barnes & Noble . The CEO has already been reviewed in The Sunday Times , The Observer and Financial Times .