(Bloomberg) — All the legendary Wall Street investors complaining about how expensive stocks have become can’t have been talking about Europe.Valued near a record low relative to the S&P 500 on an estimated price-to-book basis, the Stoxx Europe 600 Index has lagged behind in the equity market’s recent rally, adding 18% since the March trough compared with a gain of about 30% in the U.S. benchmark.“European equities have massively underperformed the U.S. year-to-date,” said Alberto Tocchio, chief investment officer at Swiss wealth-management firm Colombo Wealth SA. “We are getting increasingly less bearish on European value sectors — autos, financials — …read more
Source:: Yahoo Finance
