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1.Market Observations, 8.Was Sticky

21 Feb 2017 (AFR) – Morgan Stanley says momentum investing now cheap in Australia

[COMMENT: Please remember that the below is a news story and an opinion. It is not a recommendation to take any action.]

(21 February 2017, AFR, p27, by Myriam Robin)

‘For the first time since 2003, many high momentum stocks are actually cheaper than those with low momentum, Morgan Stanley says. When it comes to investing in the ASX, the broker’s analysis shows that one of the most reliable indicators is whether a stock has risen in the past. So-called “momentum” investing is usually expensive, but some of the ASX stocks with the most momentum are going cheap – a rare event that last occurred in 2003.’

Read more (and see the graph of 3-month forward returns) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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