Aust stocks not as dear as USA
Australian stocks are moderately expensive but far from as overvalued as the US market, according to Rothschild Asset Management's Callum Burns.
Australian stocks are moderately expensive but far from as overvalued as the US market, according to Rothschild Asset Management's Callum Burns.
Burns says the value of the Australian stock market on a price earn-ings ratio was slightly above fair value. But investors can still pay too much for good assets, Burns warns.
"The road to ruin, as we know, is littered with investors who bought quality assets and still paid too much for them," he says.
Burns also says the emergence of a telecommunications sector in Aus-tralia was a boon to investors and the return on equity in industrial sector is set to lift.
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