Any tips/links/etc for valuing companies in the current environment?
The effect of QE on financial statements struck me the other day as I started to run some screeners on Japanese companies over the last few weeks. The spike in prices since QE began here 2 1/2 years ago has made it extremely difficult to look at trends over time as you have to look at everything with the assumption that QE will last forever, when this probably won't be the case.
The good news of course is that since it's hard to find bargains in an environment where you can easily tell the value of a company, there should be plenty of opportunities to find bargains in the current environment. Just a matter of finding a way of seeing through the fog.