There is disagreement on value regarding the overall stock market. ICON thinks stocks, in general, are underpriced relative to their intrinsic value but many analysts are stating stocks are expensive. We presume analysts who think stocks are expensive are basing their views on the broad market P/E. Who’s right, and why the disagreement?
At ICON, we invest according to our valuation system and don’t rely on emotions. We also believe that the market leads the economy. Therefore, if one sees low bullish readings of AAII sentiment as contrarian, the current market could actually be a historic buying opportunity.
The SBI Portfolios buy and hold the best strategies and the most strategy consistent managers in those strategies according to our system. In using this process we’ve observed that the effectiveness of each strategy may vary through changing economic and financial market conditions. One such example during this most recent market volatility is ICON’s SBI Global Moderate Portfolio
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