
latest feature
All parties must end
latest feature
All parties must end
Roger Montgomery
October 9, 2025
Markets sit at elevated levels, fuelled by optimism around artificial intelligence and the promise of lasting productivity gains. Yet beneath the excitement lies a complex mix of valuations, momentum, and risk – raising important questions about how investors can stay positioned if sentiment shifts.
Markets are expensive – observations and implications
There is a conga line of analysts, fund managers and commentators pointing out the extremes many traditional or conventional measures of value have now reached. From price-to-earnings, price-to-book, and market-cap-to-Gross Domestic Product (GDP) to earnings and dividend yields, the U.S. S&P 500 is in rarified air when it comes to the price investors are willing to pay for exposure to future growth. continue…
Markets sit at elevated levels, fuelled by optimism around artificial intelligence and the promise of lasting productivity gains. Yet beneath continue...