The equities bell is a long way from being rung - four reasons why there may be 25% left in the share market
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Pendal Group
The equities bell is a long way from being rung - four reasons why there may be 25% left in the share market. You may have heard that a major sell-off is just around the corner. We disagree. Here's why: 1. Historically, returns are just average when looking at the rolling 3-year total return for Australian shares. 2. Price to Earnings ratios are within a normal range - we differentiate between pre and post GFC because we believe that the event caused a fundamental shift in both market and investor behaviour. The market is actually cheap on this metric. 3. The US market is fairly priced against earnings - more than 140 years of data may come as a surprise to anyone claiming US shares are in bubble territory. 4. The Australian market is arguably 25% undervalued. Want to know why? Read more from Portfolio Manager Stuart Eliot here (VIEW LINK)
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At Pendal Group, our vision is to combine the benefits of our strong institutional foundation and performance-focused culture with a multi-boutique specialist investment approach. We believe this approach firmly positions Pendal to achieve...
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At Pendal Group, our vision is to combine the benefits of our strong institutional foundation and performance-focused culture with a multi-boutique specialist investment approach. We believe this approach firmly positions Pendal to achieve...