Surveillance: Soft vs Hard Landing
Bloomberg Surveillance
00:00
Are We Pricing Out Free Money From Equity Valuations?
Have we priced out free money from equity valuations, Abby? To a very large extent. It's one of the reasons we have seen some of these non-US markets outperforming the US market even though our market has been doing quite well. We don't yet know what the results were in 2022 for lots of the very leveraged products, including private equity. And I also think that some active managers who were okay, but not great, who levered up their results, so they turned a dime into a quarter.
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