This time is different. Everybody who's spent enough time in Finance knows from personal experiences those four words are more often than not used at the wrong time, by the wrong people and inside the wrong context. But this time, really, it has been different for Australian equities. So maybe there's a whole lotta truth in the description market strategists at Goldman Sachs used recently: the defensive bull market. Goldman Sachs aptly explains it has not all been about defensive yield plays only, structural growth stories have been turned into High PE stocks and they too have underpinned the share market's rise from its March 2009 trough. For most other stocks, the story has been different. Very different. So what's the future going to bring? More of the same? Goldman Sachs begs to differ and concentrates on those stocks most likely to face de-rating. Macquarie, however, has no such doubts and has simply tried to identify stocks that are most likely to outperform in a general context wherein sustained growth stories remain scarce. My Weekly Insights: (VIEW LINK)
very interesting read Rudi. Thanks for sharing and making the full article available.