Not exact matches
During multi-year periods when
valuation multiples expand, we may struggle to
keep pace with the market.
During multi-year periods when
valuation multiples expand and growth stocks are in favor, it seems clear that we will struggle to
keep pace with the market.
I try to
keep cash levels based on risks associated with the current absolute
valuation multiples as well as my assessment of sustainability of current margins.
European value stocks have
kept pace broadly with the other benchmarks in the past few years thanks to essentially one force alone — rising
valuation multiples.
However, with Welltower trading near all - time highs and many bond - like stocks trading at premium
valuation multiples relative to history, short - term, more risk averse investors need to
keep in mind the risk of a short to medium - term correction if rates do begin to rise and cause capital outflows for bond - like stocks.