Charles Schwab chief investment strategist Liz Ann Sonders joins Market Domination Overtime to discuss the state of the market (^DJI, ^IXIC, ^GSPC) and its...
"Valuation is marginally better thanks to the pullback. We did see a little bit of an easing in some of those mega-cap names. But we're still in the high 20s for the Magnificent Seven. So you are at that point, especially given we've seen some deterioration in third quarter consensus estimates relative to second quarter, that we are a bit in that show-me environment because of valuation expansion that predated this recent pullback," Sonders explains.
So you are at that point, especially given, we've seen some deterioration in third quarter, consensus estimates relative to second quarter that we are a bit in that show me environment because of valuation expansion that pre dated this recent pullback outside of the magnificent seven, you're in the mid to high teens, a bit more reasonable terms of valuations.If you go back the past year, only 11% of the S and PS constituents have outperform the index itself over the past month.
So we think you're better served, taking more of a factor approach and applying that factor analysis, that factor of screening across the spectrum of cap indexes and across the spectrum of sectors versus the more monolithic call that comes with trying to make a sector decision, Liz Anne.
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