From Ruffer Investment Management, September 17:
Going, going, gone!
What can they see that we can’t? Private equity bids for UK companies are soaring, while at the same time the UK stock market languishes at valuations well below US peers.
Private equity bids for UK companies are soaring, while at the same time the UK stock market languishes at valuations well below US peers.
Over the last decade the UK stock market has underperformed the US by over 60%1 and now trades on a forward price-to-earnings ratio (PE) of just 13x compared to 21x for the S&P 500.2 Over the same period private equity interest in snapping up UK businesses has grown dramatically, hitting a record of almost $64 billion this year, with most of it stemming from the US.3....
...MUCH MORE
If interested see July 5's "Ruffer's Investment Review: Q2, 2021" for some of our other visits with Ruffer.
