The P/E expansion represents a powerful tailwind during bull markets but creates headwinds during subsequent periods when expansion stops.
Source: Q&A with FT: Investing in Range-Bound Markets December 5, 2009
The P/E expansion represents a powerful tailwind during bull markets but creates headwinds during subsequent periods when expansion stops.
Source: Q&A with FT: Investing in Range-Bound Markets December 5, 2009
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