FourStar’s Brian Kasal and Chris Reardon met recently with Wharton School Professor Jeremy Siegel. Prof. Siegel is a regular contributor to many financial channels and publications including CNBC, Fox Business News, The Wall Street Journal and is a native of Highland Park, a Chicago suburb. Pictured in the photo is Prof. Jeremy Siegel and FourStar CEO, Brian Kasal, at the Westin O’Hare near Chicago.
Wisdom Tree Funds, founded a number of years ago with the idea in mind that dividends play a prominent role in security valuation and therefore security selection. Prof Siegel has a similar view and teamed up with Wisdom Tree at it’s founding and is a partner and member of the Wisdom Tree Board.
In his remarks, Prof. Siegel discussed many topics of securities valuation and specifically the controversy on the popular securities valuation measurement known as C.A.P.E. or Capitalization Weighted Price Earnings. With the recent adjustments to CAPE measurement discussed, Prof. Siegel argued that earnings have been under measured by CAPE in a number of sectors and therefore US stock markets are not overvalued as CAPE suggests. Prof. Siegel suggested that US stocks could be a good value and many other assets classes offered limited possible returns in the near future.
We have met Prof. Siegel numerous times in recent years and value his work and ideas. We hope to benefit from his work again in the future as opportunities develop.
***The above represents Mr. Kasal’s recollection of the event and does not purport to represent the opinions of any of the named parties.***