Trump trade – time for a pullback?

Chief Investment Officer and founder of Aitken Investment Management
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I spent the last three days in New Zealand talking to investors and financial advisors about global investing, and the most frequently asked question is “do you think Wall St will have a correction?

My answer is “yes”, but of course “timing” is everything. You don’t want to be the boy who cried “wolf”.

With US equities trading on a five P/E point premium to the rest of the world, and US equities now representing 54% of the MSCI World Equity Index (yet US GDP only represents 16% of world GDP) it would appear valuations and positioning are now very stretched in US equities.

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