European High Beta Multiple Appearances Approaching Extremes
High beta sectors are approaching historic high rate of multiple appearances on stock screeners, with beta (consisting of financials, materials, consumer discretionary, industrials, and IT) making up 79% of multiple appearances compared to low beta sectors which are just 21% of multiple appearances.
“The low / high beta split is approaching historical extremes,” writes Morgan Stanley analyst Ronan Carr. The last two times the split was this wide were in July 2007 and mid-2010. “The former coincided with the end . . .
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