http://www.valoronline.com.br/impresso/investimentos/119/382768/nuvem-passageira
As stated by an article published today in the Valor Econômico newspaper , the diretor of Schroders Brasil, Beto Scretas, said that it doesn't make sense the brazilian market to be valued at a lower PE than the US market, because of the different growth prospects.
The intelligent investor knows: it's foolish to pay high for future growth.
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1 comments:
OK, and about the interest rate differences?
In Brazil we have a high real rate, while in USA the long term rates are very low, about 3%. So, even if investors were willing (and foolish) to pay for growth, the USA P/E must be higher because of these low interest rates.
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