08 April 2021
•
Image:
Andrew Swan of Man GLG
In markets – and in US markets above all – the most crucial lesson from 2020 was a reminder: the stockmarket is not the economy.
Yes, earnings cycles in aggregate move with economic cycles. But index concentration in secular growers and gargantuan price-to-earnings (P/E) multiple expansion hammered home the point that the stockmarket...
To continue reading this article...
Join Investment week
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
