Finding the long shots on equity markets

Outlook commentaries at the outset of 2016 were noticeably devoid of cheerleaders for the eventual winners, while prior year winners had plenty of fans. The same could happen again in 2017 because beta, Sortino ratios, implied volatility and catalysts still seem to be dominating the simpler questions concerning how a business makes money, whether it is likely to make money durably and how much someone is being asked to pay for it. These are all questions not easily answered by reference to a share-price time series. (VIEW LINK)

Schroders Australia