Market Commentary – 1st March 2018

Market Commentary – 1 March 2018 At the beginning of February, we were contemplating whether the market was about to hit the buffers, and into the lows we have indeed seen the FTSE 100 fall, by 7.8%, and the S&P 500, by 11.8%. Since then much chopping about, with no as yet clear trend, has

Market Commentary – 1st February 2018

Market Commentary –1st February 2018 Last week, the U.S. equity market climbed to the steepest valuation level in history, based on the valuation measures most highly correlated with actual subsequent S&P 500 10 to 12-year total returns, across a century of market cycles. These measures include the S&P 500 price/revenue ratio, the Margin-Adjusted CAPE (a