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1.Market Observations

28 Nov 2013 (TheAge) – Market priced on the high side – Warning signs as ‘optimism builds on optimism’

(28 Nov 2013, The Age, BusinessDay, p26, Max Mason)

‘Increased investor optimism since the federal election has not been matched with earnings recovery, as the Australian sharemarket continues to look expensive. The forward price-to-earnings ratio – which uses market value per share over earnings forecasts per share – for the benchmark S&P/ASX200 has remained well above its five-year average of 13.7 times, with the market currently priced at 15.4 times.’

Read more at SMH.com.au

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