A pointer to higher returns

The current price-earnings ratio of the Australian market points to higher growth prospects.

PORTFOLIO POINT: The Australian sharemarket is trading below its 50-year price-earnings average, and that signals we’re in good buying territory – barring unforeseen circumstances. 

As the Australian companies’ profit reporting season draws to a close, you might be wondering why always the fuss. The answer is that company earnings and forecast changes are the foundation elements that drive sharemarket returns.


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