Stock valuations - the buffer against macro headwinds

The September 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 rotation towards more value-orientated stocks is occurring, but in 'fits and starts'
  • How 'bond vigilantes' are hibernating for now, but not forever
  • How considering stock valuations helps protect investors from macro headwinds

“Ultimately, long term returns are determined by valuations. That's why we keep highlighting just how significant the current valuation dispersion in the market is, and therefore the opportunity to take advantage of it.”


September 2020 Quarterly report