Valuations
in sentence
115 examples of Valuations in a sentence
But for stock markets generally,
valuations
are not yet excessive, and investors are far from euphoric.
And, of course, don’t draw comfort from the lofty stock-market
valuations
of the broad constellation of US companies.
Trade deficits and surpluses also matter, as do stock-market and property valuations, the cyclical outlook for corporate profits, and positive or negative surprises for economic growth and inflation.
Some economists, led by Northwestern’s Robert Gordon, argue that, stock market
valuations
notwithstanding, all the great inventions have been made.
The uptick in expectations is reflected in financial markets, though many, including me, believe that current asset
valuations
are too optimistic.
And, given market valuations, it is much more interesting to explore such possibilities than it is to focus on many of the other issues that analysts obsess about.
But at least four downside risks are likely to materialize this year, undermining global growth and eventually negatively affecting investor confidence and market
valuations
of risky assets.
Price-to-earnings ratios in the US are 50% above the historic average, private-equity
valuations
have become excessive, and government bonds are too expensive, given their low yields and negative term premia.
What the world wanted was an accurate picture of what the banks were worth and “mark-to-market”
valuations
to guide investors as to how much new capital they needed.
In a bubble,
valuations
are based on collectively evaluated evidence, and those who enter the market earliest often benefit.
The question is whether stock
valuations
are excessive relative to future earnings potential.
A lower discount rate and/or a higher rate of expected earnings growth would justify higher equity
valuations.
In my view, it is difficult to make a strong case for a significant sustained increase in earnings growth in this environment, meaning that growth alone would not justify current equity
valuations.
On the contrary, the stage seems to be set for continued increases in asset
valuations
and demand-driven growth.
Only in a simplified theoretical model would these
valuations
be determined solely by growth in the expected underlying cash flows.
One might argue that while
valuations
and the underlying growth dynamics can diverge in the short and medium run, they eventually converge.
Beyond the matter of control, the acquisition of technology companies also requires SOEs and SWFs to take a different approach to risk management, owing to the unstable nature of
valuations
in this sector.
Nevertheless, they are not invulnerable, because even fair
valuations
– or, indeed, undervaluations – are not exempt from the downward pressures of a crisis or the resetting of asset prices after a build-up of systemic risk.
And he seems to question the high stock-market
valuations
for “unicorns” – companies valued at or above $1 billion that have no record of producing revenues that would justify their supposed worth and no clear plan to do so.
High stock market
valuations
would reflect a radiant future, households would be behaving in a reasonable way, and America would be wise to run a trade deficit in order to invest.
The Eurozone Island of StabilityBRUSSELS – Market volatility has surged lately, apparently vindicating those who have warned of lofty equity
valuations.
Perhaps the long-awaited upward convergence of economic fundamentals to validate market
valuations
is within reach.
But now, even those with the most faith in markets question reliance on market prices, as they argue against mark-to-market
valuations.
If investing is simply a matter of allocating money to an index, however, liquidity becomes the sole determinant of prices, and
valuations
go haywire.
Similarly, a new framework recently proposed by Morgan Stanley for
valuations
of companies in 29 industries includes ESG factors that pose material risks or opportunities.
Such companies’ potential long-term profits simply do not justify the
valuations
they are receiving.
Even after the market volatility following the crisis in Greece and the Chinese stock market’s plunge,
valuations
appear to be high.
A recent study by the IMF reports on “equilibrium” exchange rates derived from models of long run factors in currency
valuations.
Yet another reason for the correction is that
valuations
in stock markets are stretched: price/earnings ratios are now high, while growth in earnings per share is slackening, and will be subject to further negative surprises as growth and inflation remain low.
Overtly, Russian stock
valuations
look attractive, but by heaping abuse on foreigners, Putin has scared them away, while Russian investors have no money at hand.
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