Executive Summary
Goldman Sachs' Chief Investment Officer Sharmin Mossavar-Rahmani presents a contrarian view on equity valuation theory that challenges widespread investor assumptions. Her team's analysis of 32 valuation observations across eight metrics and four regions reveals only one instance of statistically significant mean reversion, directly contradicting the market's belief that high valuations predict lower future returns. This finding undermines the bearish positioning many investors have adopted base...
Key Investment Opportunity
Emerging Markets Ex-China Tactical Allocation
Goldman expects EM ex-China to deliver 8% returns in 2026 vs 7% for US and 6% for non-US developed, driven by currency stabilization and selective country fundamentals
...and 1 more investment opportunities
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