Equity valuations are not at the "sky-high" levels that Berkshire Hathaway CEO Warren Buffett called out in last month's annual letter to shareholders, according to a panel of US equity specialists.
Speaking at the Aravis US Fund Forum 2019, in a panel discussion chaired by BMO Global Asset Management's Gary Potter, Bill Miller, chief investment officer, chairman and portfolio manager at Miller Value Partners said equities were "the only game in town" as all eyes are on the US Federal Reserve to see where equity valuations multiples might head. Why the US economic backdrop 'remains rosy' Potter said: "Valuing companies is hard to do, even harder to get right and the market - currently trading on 14x, 15x earnings - is very unforgiving if you miss by even a cent." He said that ...
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