Livewire: Fund Manager Q&A with Joseph Lai

Five high conviction themes Joseph Lai says will drive the emerging market rebound

View the original post including full transcript on Livewire.

When it comes to investing and markets, there’s a necessity to talk about the averages. And in the context of 2021, no doubt you’ve seen multiple headlines declaring that, on average, markets are expensive.

For example, popular indices such as the S&P500 and the ASX200 currently trade on PE multiples of 26x and 25x, respectively*. Well above their long-term averages.

The NASDAQ, buoyed by surging tech valuations, trades on a lazy PE of 113x*. Expensive in anyone’s language.

But not everything looks expensive to Dr Joseph Lai, the co-founder of the recently launched fund manager Ox Capital. In his view, Asian stocks are unequivocally cheap, which comes from the perspective of an investor who has spent the last 17 years navigating Asian markets.

*All data sourced from Bloomberg