Patrick Artus affirms that European Markets should maybe be priced 25% higher from current levels based on a 3% risk premium differential.
US markets are mostly inflated by share buybacks because this is how the stockholders are remunerated, whereas in France for instance, dividends are on the order of 3.5%.
US markets are mostly inflated by share buybacks because this is how the stockholders are remunerated, whereas in France for instance, dividends are on the order of 3.5%.