レポートをダウンロード
このレポートにアクセスするにはフォームにご記入ください
Over our main 6-12 month investment horizon, valuation has very little ability to predict asset returns. Over longer periods, however, valuation is highly relevant and should be an important part of strategic asset allocation decisions.
Our review of the valuation condition of major asset classes suggests that ex-US stocks and ex-US developed market currencies are the primary assets that could reasonably be considered “cheap” today.