Sentences with phrase «multiple contraction in»

Still, we see the economic and earnings backdrop as positive for equities, with fuller valuations a potential drag, especially in the U.S. Equities in Japan, the only major region to see multiple contraction in 2017, look well positioned.

Not exact matches

When you purchase a broad swath of equities, say an S&P 500 index fund, the returns you can expect over the next decade or so comprise four building blocks: the starting dividend yield, projected growth in real earnings per share, expected inflation, and the expected change in «valuation» — that is, the expansion or contraction in the price / earnings (P / E) multiple.

With equities going sideways throughout 2015 and the dollar causing a contraction in earnings, we ended up witnessing an expansion of the multiple in a stealth manner.

In the 12 months ended 2015 Q3, valuation multiples expanded by an amount roughly equivalent to earnings» contraction, but in early 2016 prices are rapidly adjustinIn the 12 months ended 2015 Q3, valuation multiples expanded by an amount roughly equivalent to earnings» contraction, but in early 2016 prices are rapidly adjustinin early 2016 prices are rapidly adjusting.

Smoking cannabis was superior to smoking placebo for symptom and pain reduction in individuals with multiple sclerosis having excessive muscle contraction or treatment - resistant spasticity.

Across multiple studies, single fiber contraction velocity is approximately 220 % higher in type IIA muscle fibers, compared to type I muscle fibers.

This is because training one muscle group at a time doesn't teach multiple muscle groups to coordinate their contractions and firing rates, which is how muscles work in real life.

This storage of elastic energy can be used for more forceful muscle contractions, which means your performance in activities like running, throwing, hitting, and jumping can be augmented by multiple times.

When these periods occur alongside high P / E ratios, the contraction in multiples has usually been substantial.

The start of a contraction in valuation multiples has historically come long before high levels of inflation.

Obviously the best returns come in the latter situation but by focusing on expected returns, I have sometimes bought high P / E businesses too because even if there was a multiple contraction, there is good money to be made in a decade...

Exhibit A in what I mean here is the «US / UK Equities are worthless, they've gone no where in 10 years, never touch them again» argument which is invalidated when you realise that all that's happened in 10 years is a P / E multiple contraction combined with growing earnings to combine to create stagnation.

A lot of the growth in the underlying business has to first go to offsetting this multiple contraction before you can start profiting from it.

One is a pure contraction in valuation multiples, where prices plummet but fundamentals like revenue and earnings remain mostly unchanged.

In some cases, mesh contraction can require multiple corrective surgeries to repair.