Around the twist - Avoiding market distortions the key for investors in 2021

The December 2020 Quarterly Report and video update below provides the latest information on the performance of PM Capital's portfolios, investment activity and market outlook.

In this video update, Paul Moore, Chief Investment Officer and Portfolio Manager, Global Strategies, addresses:

  • How the valuation shift towards value has only just begun
  • Our approach to commodity stock holdings now, given some significant upward moves
  • The outlook for the Australian Dollar

“There is always plenty to be uncertain about... What is not uncertain, in my mind, is the unwinding of the valuation dispersion between the value and the growth/ momentum sectors of the market will be the dominant feature of markets for some time."


December 2020 Quarterly report