equity valuations

The conditions that shaped returns for 30 years are fading. Making sense of what comes next will require a return to first principles.

Forward P/E charts overstate their signal. Long-run returns are driven more by earnings growth, buybacks and dividends.

This article considers how AI may impact upon decision making under uncertainty thereby increasing the potential for herd behaviour.

This article establishes a framework for formulating how information flows impact upon the way investors make decisions under uncertainty.

PM Capital has reviewed UK-listed global industrial companies during the past two years.

No end in sight to the multiple expansion for the discretionary names in the retail space.

While markets chase the AI hype, medtech quietly trades at decade-lows. Here’s why that’s an opportunity for long-term patient investors.

Valuations of equity indices aren't great timing tools for short-term returns, but what about risk?

The correction under way in US equities has started from a point of extremely expensive valuations relative to earnings and bond yields.

Valuations are high. Bitcoin is a hundred grand. Trump is back. Australian elections loom. Uncertainty meets opportunity. Now what?