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), BlackRock CIO of U.S. fundamental equities Tony DeSpirito said in a new research note.
DeSpirito 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…
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