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1.Market Observations, 8.Was Sticky

21 Apr 2017 (AFR) – Valuations near ‘dot-com bubble’ levels may halt the bull market

(21 April 2017, AFR, p32, by Philip Baker)

‘Those tenacious sharemarket bulls still have the 6000-point mark squarely in their sights despite the major S&P ASX200 index falling back to 5800 points this week.’ <snipped…>

‘But expensive valuation measures suggest the march to the next milestone might be more of a slow slog than the turbo-charged rally enjoyed by investors since Donald Trump was elected president of the United States a little over five months ago.’ <snipped…>

‘They are all trading on high PEs, which means if the earnings aren’t up to scratch then it’s going to be tough to keep grinding higher.’

Read more at AFR.com (might need AFR login access or try: AFR.com/trial)

 

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