3

Do not use the capitalizations of the ETFs, they hold a small and variable proportion of the securities outstanding. Instead base your weights on the papers by Swinkels et al. which have tried to estimate the actual amounts invested by all investors (not just ETFs!) in various assets. Their latest paper is Historical Returns of the Market Portfolio, 2019 ...


2

You mean aside from the fact that stock price can fluctuate wildly? There's no 'why', per se. P/B (nor P/E, P/S, P/CF or any valuation metric) isn't a panacea for identifying undervalued companies. It's a proxy of sorts. 1 is obviously a kind of floor, but imperfect (where break-up value = current market price), though it's at times eclipsed. During ...


2

Tiingo.com has fundamental data available through an API you can access using Python. I'm not sure if you have to pay for it or if it's included with a free account. Either way, the outstanding shares are on the balance sheet within the fundamental data you can get through their REST API. YCharts has this data on a monthly basis too. See example here. ...


2

There is no limit, but you would need a lot of large non-residents shareholders to achieve that. This is arguably the case in Hong Kong, where the total market cap is advertised at 4.5 trillion dollars. I cannot find a source for the total wealth of Hong Kong, but given that ultra high net worth individuals have 1.2 trillion in assets, and assuming they own ...


1

I'd be a bit wary of any data source that had quite as wide a range as that for 2017... Nothing about European banks has been any kind of "normal" for well over a decade now; but <0.5 and >2, let alone both in quick succession, still represents a "hardcore" variety of financial pornography (such sadly are EU banks). Normally you ...


1

Simply, the P/B ratio is the ratio of what the market assumes for the value of the bank were it wound down vs. the value it has a on its own books. Don't forget, also, that a banks has huge leverage: you may think of it's value as being driven by the small amount by which the value of the assets differs from the value of its liabilities and shareholder's ...


1

P/B is a ratio so it has a numerator and a denominator. P is easy to look up, it is the market capitalization. The problem is that B is the one that's hard to ascertain. Even if you believe the auditors, you should probably make adjustments, for example, the net cash-on-hand. To make things worse, B is in the denominator so potentially, small changes in the ...


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