Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, I'm a recent subscriber and have been enjoying the reports. I'm curious on your thoughts about ASX. I sold at a 60% profit some time ago so there are no complaints from me but it's risen about another 20% since then. It never seems to appear on any Buy or "good value" lists so I'm wondering what you think might be keeping it at such elevated levels. Cheers, Carl
Hi Carl,
I tend to agree with you Carl, it’s a stock that never looks cheap however it’s also a company that has very predictable earnings which has been a very in demand theme through 2021 . Right now, it’s forward P/E multiple is ~15% above it’s 5 year average making it expensive. While it’s hard to go wrong with the ASX, it doesn’t enthuse MM at this point in time but as we’re bullish stocks another foray above $90 wouldn’t surprise.
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