Quality stocks haven't been this cheap in more than 20 years

Yahoo Finance2021-06-23

Quality is on sale in the stock market. Higher quality stocks are trading at their largest valuation discount to the broad market since the dot com bubble of the early 2000s (see chart below), ...

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精彩评论

Cynthia96
2021-06-23
Cynthia96
Wow, great!
- Nibatry:
  wow 👏 😮
Kin23
2021-06-23
Kin23
Wow
Cynthia96
2021-06-23
Cynthia96
👍
rxyce
2021-06-23
rxyce
really
ZhiK
2021-06-23
ZhiK
Great
Uxtaal
2021-06-23
Uxtaal
👍

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nQuality stocks haven't been this cheap in more than 20 years\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 13:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/quality-stocks-havent-been-this-cheap-in-more-than-20-years-184255120.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Quality is on sale in the stock market.\nHigher quality stocks are trading at their largest valuation discount to the broad market since the dot com bubble of the early 2000s (see chart below), ...</p>\n\n<a href=\"https://finance.yahoo.com/news/quality-stocks-havent-been-this-cheap-in-more-than-20-years-184255120.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HD","symbol_name":"家得宝","start_time":0,"source_url":"https://finance.yahoo.com/news/quality-stocks-havent-been-this-cheap-in-more-than-20-years-184255120.html","article_id":"2145406595","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2145406595","pubTimestamp":1624424815,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Quality is on sale in the stock market.\nHigher quality stocks are trading at their largest valuation","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"HD":"家得宝","UAL":"联合大陆航空","BLK":"贝莱德","SCHD":"Schwab US Dividend Equity ETF","CUK":"嘉年华存托凭证","CCL":"嘉年华邮轮"},"translate_title":"优质股票20多年来没有这么便宜过","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BLK":0.9,"CCL":0.9,"CUK":0.9,"HD":0.9,"QSII":0.9,"SCHD":0.9,"UAL":0.9},"content_text":"Quality is on sale in the stock market.\nHigher quality stocks are trading at their largest valuation discount to the broad market since the dot com bubble of the early 2000s (see chart below), BlackRock CIO of U.S. fundamental equities Tony DeSpirito said in a new research note.\nDeSpirito defines high quality stocks as those of companies that generate profits and sport pricing power (so obviously, this excludes Special Purpose Acquisition Companies, or SPACs). The companies manage their balance sheets and cash flows effectively, demonstrate strong accounting credibility and return capital to shareholders in a disciplined manner (most likely through dividends).\nInterestingly, despite the impressive fundamental features of high quality companies the stocks themselves have sucked wind going on nine months.\nQuality stocks look to be on sale, BlackRock contends.BlackRock\nDeSpirito's research shows that quality stocks have underperformed since COVID-19 vaccine announcements came to fore back in November 2020, sending their valuations lower. Instead of paying up to own quality companies amidst a global economic recovery (ones that could lift their dividends and share repurchase plans because of the macro rebound), investors have largely avoided or sold these stocks in favor of riskier bets that produced strong gains early in the recovery.\nA great example of this dynamic could be seen in the relative performance of the Invesco S&P 500 High Beta ETF. Some of the ETF's top holdings include super risky economic recovery plays such as Carnival Corp. and United Airlines. The ETF has gained a very solid 31% year-to-date, outperforming the 13% increase in the S&P 500. Meanwhile, the Schwab U.S. Dividend Equity ETF (which includes high quality dividend growers like Home Depot) is only up 17% on the year.\nNow, DeSpirito said the tide is about to swing back to quality.\n\"We see potential for quality to rerate higher. 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