Global equities have seen $765bln of inflows year to date…this is the largest 9 month inflow ever by a factor of 3x. In fact equity inflows in the last 12 months have been larger than the prior 25 years cumulatively. (via Goldman Sachs). #stockmarket
Do you think this will keep Multiples higher than they've ever been or is this just a temporary thing?
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Think that multiples are currently a bit higher than normal bc of COVID recovery so on adjusted measures not at all-time highs. Ultimately, though, not sure multiples matter as much as withdrawal of liquidity. Don't see that in the near-term - maybe 6+ months at best.
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