I like what you have to say. 30% capital exiting from TLS will put it in the buy range, and kick-start the re-rating.
The only counter argument that I have is that the ASX All Ords has an average PE of about 16, where as the S&P 500 average PE of 25, so relatively speaking the ASX represents value. Of-course there is the average growth estimates of the constituent companies to take into consideration. Arguably the quality of the S&P 500 is much better than the ASX All Ords, so I'll leave it up to the reader to decide on the validity of this latter point.
Add to My Watchlist
What is My Watchlist?
