Surveillance: UK Crisis
Bloomberg Surveillance
00:00
Is This Market Cheap Yet?
We think that the catch-up on the slowdown is going to really materialize mostly in the first and second quarter of next year. We still think that earnings expectations for the early part of next year are just too high. So we would not be in a rush to push the valuation argument right now. Europe is cheap, but cheap for a good reason. We think likely it's cheaper from here.
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