The S&P 500 may look expensive on most traditional valuation metrics, however, according to Goldman Sachs due to a record low level of capital spending; the index appears attractive when valued on free cash flow yield.
Indeed, according to a recent research report from the investment bank, capital expenditure as a percentage of cash flow from operations ranks in just the fifth historical percentile since 1990.
- These Behavioral Biases Are Driving Investor Decisions
- Switching Costs: The More the Better
- More Mutual Funds Launched This Year Than ETFs
The report goes on to...
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