(Bloomberg) The Trump-induced rally in U.S. stocks has been overdone and better returns are on offer in Europe and Asia, according to Jacob Mitchell, the chief investment officer at Antipodes Partners Ltd.
“Not many stocks in that area actually demonstrated a margin of safety to begin with, so they were already expensive,” Mitchell said in an interview in Sydney Tuesday. “Now they’re a lot more expensive.” His global equities fund last year gained almost double the 8.4 percent return of the MSCI All Country World Net Index in Australian dollar terms.
