While Momentum continues to work overall, the gains have been skewed to the companies trading at the highest valuation multiples. Extremes, based on both price and valuation, have only been greater a handful of times during the period measured.
Sep
07
2018
Price Hasn't Mattered
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![Greg Swenson / Sr. Research Analyst & Co-Portfolio Manager](https://leuthold.imgix.net/leutholdgroup.com/site_files/authors/DSC_4236_LR_Greg.jpg?h=150&w=150&fit=crop&fp-y=.15)