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Bond Investors Love Greece. Really.
May 20 2021, 8:25 PM
May 20 2021, 10:30 AM
May 20 2021, 8:25 PM
(Bloomberg Opinion) This southeastern European home of 10.7 million people has the lowest risk and highest returns wherever major government bonds are traded. Economists expect the second-fastest growth among 34 developed countries. It s also an emblem of unanticipated economic rejuvenation and the power of 19 nations sharing a currency, the euro.
(Bloomberg Opinion) This southeastern European home of 10.7 million people has the lowest risk and highest returns wherever major government bonds are traded. Economists expect the second-fastest growth among 34 developed countries. It s also an emblem of unanticipated economic rejuvenation and the power of 19 nations sharing a currency, the euro.
Chris Horwood
Sir John Templeton once said, “Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.” He was describing the mismatch that often arises between human emotions and investment fundamentals. Since many investors overreact to both good and bad news, this can potentially create enormous opportunities for those who hold a different perspective.
Last March when a global pandemic was first declared turned out to be a fantastic time to invest precisely because the world was so scary and uncertain. Indeed, while there was much to worry about, the degree of pessimism was so extreme that it set the stage for attractive returns as the fundamentals for many businesses turned out to be much better or less bad, depending on your perspective than many had feared.
Mar 7, 2021
When will the global stock bubble burst? The higher stock markets rise, the bigger the fear that what goes up must come down. It is just a question of when. Once I asked one of my hedge fund friends how he became so rich. He answered, “I always sell too early.” So much wiser than most of us who are stuck worrying about having bought too late.
Japan’s is still the undisputed No. 1 bubble in history. At the peak, Japan’s stock market capitalization was bigger than America’s, despite the economy being less than half in size. All the valuation metrics were stretched to never-seen-before levels. For example, the Nikkei’s price-to-earnings ratio stood at 90 times or six-times above the historic average of 15 times.
Mar 7, 2021
When will the global stock bubble burst? The higher stock markets rise, the bigger the fear that what goes up must come down. It is just a question of when. Once I asked one of my hedge fund friends how he became so rich. He answered, “I always sell too early.” So much wiser than most of us who are stuck worrying about having bought too late.
Japan’s is still the undisputed No. 1 bubble in history. At the peak, Japan’s stock market capitalization was bigger than America’s, despite the economy being less than half in size. All the valuation metrics were stretched to never-seen-before levels. For example, the Nikkei’s price-to-earnings ratio stood at 90 times or six-times above the historic average of 15 times.