Cheap - with reason

Stumbling and Mumbling: Cheap - with reason: "US equities are cheap. That's one overlooked message from yesterday's flow of funds data from the Fed."

Interesting discussion on the recent payout for investors (dividends and equity purchase). There is also a look at the way that firms may be paying cash now but neglecting the future. The high level of cash holdings and the relatively low level of investment seems to be one recent feature.