ValueAct Returning $1.25 Billion To Investors Makes Sense In Trumped Up MarketMark Melin
When it was discovered ValueAct Capital returned $1.25 billion in investor assets last week, or nearly 8% of its asset base, it came as a shock. But reading between the lines of the April 3 letter to investors reviewed by ValueWalk and piecing together the market panoply, the move seems restlessly prudent amid what Federal Reserve commentators said were “quite high” market valuations.
ValueAct recognizes stocks are priced on a relative basis to other investments
It is not just that the stock market is trading at . . .
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