I have been saying for a while that stocks are dirt cheap, as measured by the degree to which prospective earnings yields exceed long-term interest rates globally.
These two limits to evaporation apply to dryland situations or large catchments when environments with additional water amount to a small fraction of the total area: the water limit because long-term actual evaporation cannot exceed long-term rainfall; and the energy limit because long-term actual evaporation cannot exceed the energy available to drive it over these time spans.
The optimistic view is therefore that selection will continue to be equally effective in rescuing populations that experience high levels of stress, so that extinction rates will not exceed long-term averages except, perhaps, when extinction is willfully pursued, for example through pest eradication or overfishing.
Interest rates tend to peak when short-term rates equal or exceed long-term rates, creating an inverted yield curve, a rare opportunity to buy bonds at great prices.
Wherever the population exceeds the long-term carrying capacity of the land, famine is a likely consequence.
The firm's EPS growth rate for the current quarter, compared with the same quarter a year ago, is 27.5%, which exceeds that long-term growth rate of 25.43%.
The present-day loss of base cations from the watershed, calculated by watershed mass balance, exceeds the long-term weathering rate, suggesting that the pool of exchangeable base cations in the soil is being diminished.
FactSet's EPS growth rate for the current quarter (compared with the same quarter last year) of 36.84% easily exceeds its long-term EPS growth rate of 19.88% (based on the average of the three-, four- and five-year figures), showing that earnings growth is accelerating.
Results show a seasonal peak in evaporation rate in late June of 7.0 mm day−1 (on average), with a maximum daily rate of 10.5 mm day−1 and a 3-year mean July-September (JAS) rate of 5.1 mm day−1, which greatly exceeds the long-term JAS precipitation rate of 1.3 mm day−1.
A threshold of 3 units for the maximally possible decrease from a score '3' towards zero, exceeds the long-term SDD of a single score being 2.2 units (54.5% of the scale range [ 18]).
