The Market Ear argues for the reverse pivot today.
Europe vs US is done
1. Valuation gap closed… SAP on 40x, GOOG on 18.5x, MSFT on 29x. Mag7 valuation now looking ‘cheap’ vs historic
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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