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Nov 13 2018

MTI: Too Early For Bullish Valuation Case

  • Nov 13, 2018

Although the Intrinsic Value category is now about 100 points above the worst levels recorded in early January, it is far too early to begin making a bullish valuation case for the stock market. Interestingly, some of the same pundits who warned “valuation is not a timing tool” on the way up are the ones trotting out these premature, value-based arguments—which are typically built on extremely-optimistic forecasts for 2019 operating EPS.

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About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager