Why there is value in value
Article Abstract:
Value stocks tend to perform better than growth stocks over the longer term, according to research by Morgan Stanley Capital International. Growth stocks may still perform better than value stocks for some periods, and this relative performance is affected by economic cycles. Growth stocks may offer better prospects in 1998, since an economic downturn is expected. Growth stocks may also offer more security than value stocks. Investors seeking very long-term investments may still be better advised to buy value stocks.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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A top pattern
Article Abstract:
The world bull market for stocks may have established a top pattern according to Robin Griffiths from HSBC James Capel. New highs could still be reached in larger western markets but there are also risks. Minor markets have been affected since Feb 1997, and the trouble had spread further by Aug 1997. Asian markets have seen a crash. A Dow Jones rally below 8350 is likely to mean a high has been established. A correction of 15% could occur between Oct 1997 and spring 1998.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Why valuations are no problem
Article Abstract:
US equities have seen a rise in their PE rations, which could imply good long-term returns, but profit rates are likely to be affected by one factor or a combination, such as a drop in labor productivity with an increase in wage inflation. A rise in inflation could mean a rise in bond yields and a rise in uncertainty, wich would put downward pressure on equity prices, as would an increase in interest rates which would affect profit rates and lead to an economic slowdown.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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