Investment: Stock markets are looking frothy, valuations stretched
Michael Murray: DCC, operating in 13 countries, looks a fairly safe harbour for long term investment.
Stock markets are looking frothy, valuations stretched. At some stage over the next 18 months, a market correction seems probable. Quantitative easing has fuelled global share prices. So, for equity investors at present a high level of selectivity and good homework is essential - on company management, market position, cost structure, cashflow resilience, diversity and financial firepower, and track record with acquisitions. It is on these criteria that DCC scores well. In my book, it...
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