Show Us Your Portfolio: Cem Karsan
Excess Returns
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The Effects of Interest Rates on the Market
The last time interest rates went up, multiples on the broad market were 20 to 25. Now they're at 68 to 82 and that's a 80 to 85% reduction in the value of the whole market. "You're likely to see massive margin compression as interest rates go up," he says.
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