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Asset management and fund structuring boutique

Unjustifiably cheap

Feb 21, 2024

Europe remains by far the cheapest developed equity market not only compared to the US and Japan but also compared to its 20 years history. What is little known however is that European companies have outperformed their US peers in terms of profit growth since 2021, especially once excluding the Magnificent 7. Why that?  Amongst the reasons are a stronger USD and upgrades in the heavy weight European oil & gas and banking sectors that still represent 25% of the European index.

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