Equities: Useful and Not-So-Useful Valuation Metrics
Intro: Valuation measures are only as useful as their ability to predict subsequent market returns. The valuations metrics that smooth out the short-term effects of the business cycle on profit margins tends to have the best track record of predicting future returns. For this reason, cyclically-adjusted measure, as well as the simple price-to-sales ratio, tend … Continue reading Equities: Useful and Not-So-Useful Valuation Metrics
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