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...I’m joined now by the FT’s Felicia Schwartz, who’s been covering the war. Hi, Felicia. Felicia SchwartzHello....
...On a November earnings call, Schwartz called for time, stating that he was overseeing a “surgically methodical process” to set the foundation for growth....
...The allies also plan to use advanced AI algorithms on P-8 surveillance aircraft to increase their anti-submarine warfare capabilities....
...The forward P/E of the Mag 7 is 31. The rest of the S&P 500, excluding the Mag 7 and four stocks with negative expected earnings, has a forward P/E of 19....
...Thus only a fraction of overall AUM is deployed in strategies that have a direct impact on the VIX® index (e.g. 1-month over/underwriting strategies on the S&P 500 index)....
...In the European tech sector, you can attribute the high P/E to heavy weighting of expensive ASML and SAP, which together make up half the sub-index....
...The S&P 489 has a weighted average P/E of 24, cheaper than the whole index, but not by much....
...Japanese stocks traded on a P/E of 67x in 1990. The Nifty 50 traded on a P/E of 34x in 1973....
...Additional reporting by Felicia Schwartz in Washington...
...According to S&P Global, in the first nine months of 2023 global private equity investments had an aggregate value of $365.3bn, a decline of 44 per cent year over year....
...In contrast, Global equities are on a 16.8x P/E (90th percentile vs. their own history), and [ . . . ] most countries trade well above their historical averages....
...The equity market may be sending a signal that the worst has passed for natural gas. There could be more to come for investors in E&Ps too. alan.livsey@ft.com...
...That could be what is happening in the p/e chart above. That would not necessarily signal the death of the size factor. One good read Sport gambling is proliferating in the US....
...On a forward P/E basis, the S&P 500’s 2021 (harmonic) average was 23, versus an average of 22 in the past four months and 18 in the past three decades....
...High multiples on which they trade have pushed the broader S&P 500 Shiller price-to-earnings ratio, aka the cyclically adjusted p/e ratio (CAPE), up from less than 30 times in late 2022 to 34 times....
...Person to watch Harvey Schwartz, the former president of Goldman Sachs, took the reins of Carlyle Group in February facing what many dealmakers said was a brutally tough task....
...30x P/E multiple is sustainable given rest of the index trades at 18x,” write Goldman’s David Kostin and team....
...Below is a selection of seven of the very largest: As you see in line four, the 2028 p/e ratios are not that different: 16 vs 18....
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...Stocks with low P/E ratios relative to their expected growth rates are rare....
...Rolls-Royce will appoint former Embraer CEO Paulo Cesar de Souza e Silva as a non-executive director, effective September 1....
...For a stock that is expected to increase earnings below the S&P 500’s average pace this year and next, that’s still a lot....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...Dealmaking remained subdued in the quarter despite a rebound in markets that has propelled the S&P 500 up by almost a fifth this year....
...case of a volatility surge during a market crash, the gamma and delta of the covered calls would quickly go to zero but wouldn’t reinforce the market move (i.e., gamma won’t turn negative)....
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