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12-12-2017, 12:53 PM
A Manager of $42 Billion Fears Bubble in World's Biggest Stocks
By Jonas Cho Walsgard
December 11, 2017, 11:11 PM GMT+8 Updated on December 12, 2017, 8:00 AM GMT+8
The world’s biggest companies could be hiding the biggest risks.
That’s because companies such as Amazon.com Inc. and Alibaba Group Holding Ltd are overvalued, according to Robert Naess, who manages about $42 billion in stocks at Nordea Bank AB, Scandinavia’s largest bank.
“I’m a bit worried about the valuation of these very popular companies,” Naess, portfolio manager, said in an interview in Oslo on Friday. “The big stocks have become more expensive. There’s danger of a bubble in them.”
Naess and his partner, Claus Vorm, quantitatively analyze thousands of companies, investing in those with the most stable earnings and avoiding expensive stocks, a strategy which has delivered a 10 percent return for the Global Stable Equity Fund this year. It has returned 12 percent on average in the past five years, beating 75 percent of its peers.
More details in https://www.bloomberg.com/news/articles/...est-stocks
By Jonas Cho Walsgard
December 11, 2017, 11:11 PM GMT+8 Updated on December 12, 2017, 8:00 AM GMT+8
The world’s biggest companies could be hiding the biggest risks.
That’s because companies such as Amazon.com Inc. and Alibaba Group Holding Ltd are overvalued, according to Robert Naess, who manages about $42 billion in stocks at Nordea Bank AB, Scandinavia’s largest bank.
“I’m a bit worried about the valuation of these very popular companies,” Naess, portfolio manager, said in an interview in Oslo on Friday. “The big stocks have become more expensive. There’s danger of a bubble in them.”
Naess and his partner, Claus Vorm, quantitatively analyze thousands of companies, investing in those with the most stable earnings and avoiding expensive stocks, a strategy which has delivered a 10 percent return for the Global Stable Equity Fund this year. It has returned 12 percent on average in the past five years, beating 75 percent of its peers.
More details in https://www.bloomberg.com/news/articles/...est-stocks
Specuvestor: Asset - Business - Structure.