As you have correctly guessed I am not an expert on corporate valuation. I offer no equity investment advice.
My personal strategy dictates that I stay modestly long global stock markets at this juncture.
I like US markets a lot, but I recognize that they are getting expensive on the currency-adjusted basis.
I am a big believer in buybacks as the best way to create shareholder value in a low interest rate environment, but I have no tools to evaluate the extent of the leverage risk.
The global debt contagion is always a concern, as I have emphasized in my post on March 8th. I would look for companies with good CFOs to minimize the blow-up risk.
CIO, HonTe Investments. Ran global macro at JPM. Yahoo! Finance Contributor. Ph.D. in Mathematics. Author, The Next Perfect Trade. No investment advice.
