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UBS’ Vinay Pande on why P/E ratios tell the wrong story

Global investor appetite may have waned in recent years due to complex social, political and economic risks, but UBS Wealth Management believes that such factors do not warrant current levels of underinvestment, highlighting the industry’s misuse of price-to-earnings (P/E) ratios to determine stretched valuations. Are equities actually expensive? “Investors globally, including in Asia, appear to be underinvested in general and…

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