Here are 3 slides from the latest « Where to Invest Now » published by Goldman Sachs’s David J Kostin and team. There sum up his views on US equity market going into 2018 and the most interesting one is the following, because it helps understand what an « exuberant » market would look like, if history was to repeat itself.
Continuer la lecture de « What Irrational Exuberance Might Look Like… »
Despite tight or reasonable valuation, equities still make sense for JPMorgan.
Continuer la lecture de « JPMorgan Stays Overweight Equities into 2018 »
(Most of the data points/comments are extracted from a Primer published in Oct 2016 by Bank of America Merrill Lynch. Comments and financial data at the end are my own).
After a number of underperforming years, European oil & gas companies have been staging their comeback: they have cut into capex and opex to generate more cash flow or reduce debt and be able to maintain their payout/dividend payment.
The market has bearly started to notice, but oil & gas companies are leaner and in better shape to leave in a world where oil price would stand around 40-60$/barrel. Continuer la lecture de « Oil & Gas: A Primer (Sort of) »
MSCI Europe has 6% left to rise next year, according to Morgan Stanley’s equity strategists for Europe. That forecast is based on a 9% EPS growth, thanks to better GDP numbers and oil price forecasts, according to a report date Nov 26.
Continuer la lecture de « Morgan Stanley Sees 6% Upside for European Equities »
So far, 2017 returns have been good for US equity investors. 2018 won’t repeat that, according to Morgan Stanley’s strategists in a report published today. Continuer la lecture de « Expect More Volatility in the US Equity Market – Morgan Stanley »