Business
Beware being caught in the junk rally – there isn’t a vaccine for that – Sydney Morning Herald
There are some fundamentally poor quality shares that are being swept up by enthusiastic investors attempting to play the COVID trade.
The vaccine trade has recently demonstrated such momentum that it risks creating a bubble containing overvalued stocks – and one that is most likely unstainable.
That’s not to say the rotation from COVID winners to COVID losers won’t continue while the news of vaccines and treatments dominate the headlines.
“The recent outperformance of the lower quality, more distressed securities with higher volatility is atypical. Historically we find these bouts of outperformance are often short-lived and hence…
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