And it seems likely that large capital inflows contributed to the overvaluation of Western assets.
ECONOMIST: The flows are neither as big nor as scary as they once seemed
With flat earnings next year, overvaluation stands at around 10%, assuming interest rates are unchanged.
The cause was crazy overvaluation, 100 times earnings for flimsy companies with cutesy names like Goldfish.
Still, this exaggerates the overvaluation, since profits will presumably recover from today's depressed levels.
Most of these flows have ebbed, and the correction of this overvaluation will follow with a vengeance.
On top of these traditional measures, some new ones are telling much the same story of overvaluation.
Ninth Circuit, Keller agreed the tax underpayments were attributable to invalid deductions, but not to any asset overvaluation.
We have seen a bit of a pullback here and last Friday we had a 63.2% overvaluation calculation.
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Greed and avarice blind the masses to the overvaluation until rationality unpredictably takes hold and the bubble collapses.
Overvaluation is also a theme with John McCamant, co-editor of the Medical Technology Stock Letter in Berkeley, Calif.
Some studies put overvaluation at 40 percent and this rings true to me.
We see a similar overvaluation when looking at historically normal levels of price-to-sales.
But stockmarkets need to fall, not just to reflect the prospect of recession but also to correct their previous overvaluation.
The 10% correction is a big down payment on the markets overvaluation.
At this point, however, Cyprus has made doing business very difficult via capital controls, while retaining its inability to deal with overvaluation via currency realignment.
FORBES: Links 25 March: Sense In Cyprus, How To Deal With Both Deposit Insurance And Moral Hazard
But the story goes beyond the overvaluation of a toaster merchant.
And if a devaluation cannot be used to reduce real wages, the real exchange rate overvaluation will be undone via a slow and painful process of wage and price deflation.
In other words, when the price is touching the pink line, fair valuation is indicated, and when the price is above the pink line, as it is today, overvaluation is indicated.
In contrast, when the price deviated significantly above the pink income valuation line, as it did by the beginning of calendar year 2007, the real danger of overvaluation is vividly expressed.
The Brazilian government, in its frustrated attempt to save the dollar and keep its currency from overvaluation, has come up with a new set of macroeconomic measures for the currency markets.
The lawsuit cited the overvaluation of the donated calling cards in 2006, which Forbes detailed in 2007, as well as other alleged improprieties Forbes wrote about as far back as 2006.
FORBES: Charity Regulators (Finally) Eye Overvaluation Of Donated Goods
One is simply that their overvaluation looks so huge.
ECONOMIST: The e-commerce boom is changing business��for the better
According to the IMF, there does not appear to be significant over-valuation of residential real estate prices in China as a whole, though there are signs of overvaluation in some market segments.
In early May, we once more got a timely overvaluation signal from the ValuEngine.com Valuation Model and I advised clients to raise cash to at least 50% and focus on stocks near their highs.
The recent sharp appreciation of the single currency did not "signal a serious overvaluation", Jens Weidmann argued in a speech that came at a time of rising fears the eurozone stands to lose most in a global currency war.
Thus, IRS will continue to argue in appropriate cases, including those appealable to the Ninth Circuit, that the gross valuation misstatement penalty applies if an overvaluation is an integral part of a transaction, regardless of the grounds for disallowance of the related deduction or credit.
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