Taking Stock 

Some thoughts on post-apocalyptic capital allocations

Mark Robinson

Some thoughts on post-apocalyptic capital allocations
REUTERS |  The Bashneft-Ufaneftekhim oil refinery is seen outside Ufa, Bashkortostan

The spreads will tell you it has been a volatile week. It’s still too early to tell the extent to which forward earnings will be constrained, but in a matter of days many trading multiples have fallen below long-term historical averages – a point worth bearing in mind assuming the last judgement isn’t upon us.

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