Skip to main content

big-time hedge fund manager Ubben giving money back market overvalued

big-time hedge fund manager Ubben giving money back market overvalued: ValueAct's Jeff Ubben, one of the most-respected activist hedge fund managers out there, is returning capital to his investors because he is concerned about the stock market's high valuation.

"The broader market context is explicit to us. The S&P 500's median P/E ratio is 18 times. For most high quality companies we follow, it is much higher," Ubben wrote in the April 3 letter to clients. "These valuations can only be justified by assuming cyclically high corporate margins will persist, a certainty of lower corporate tax rates and a risk-free rate that stays near all-time lows. We are skeptical of all of the above."

Popular posts from this blog

(26) Post | LinkedIn

(26) Post | LinkedIn : ► Trump was first compromised by the Russians back in the 80s. In 1984, the Russian Mafia began to use Trump real estate to launder money and it continued for decades. In 1987, the Soviet ambassador to the United Nations, Yuri Dubinin, arranged for Trump and his then-wife, Ivana, to enjoy an all-expense-paid trip to Moscow to consider possible business prospects. Only seven weeks after his trip, Trump ran full-page ads in the Boston Globe, the NYT and WaPO calling for, in effect, the dismantling of the postwar Western foreign policy alliance. The whole Trump/Russian connection started out as laundering money for the Russian mob through Trump's real estate, but evolved into something far bigger. ► In 1984, David Bogatin — a Russian mobster, convicted gasoline bootlegger, and close ally of Semion Mogilevich, a major Russian mob boss — met with Trump in Trump Tower right after it opened. Bogatin bought five condos from Trump at that meeting. Those condos were...