longer-term multiple discount

English translation: Neither really

10:14 Dec 3, 2003

English language (monolingual) [PRO]
Bus/Financial / Equity funds

English term or phrase: longer-term multiple discount

I'm not sure whether to interpret this as "longer-term discount based on the multiples" or "discount based on the longer-term multiples".

"Whilst Financials continue to trade at a discount to the
broader equity market this has closed in the last 6 months, and the sector is trading close to its longer-term multiple discount."

Johanna Holmberg (X) KudoZ activity Questions: 536 (7 open) (10 without valid answers) (10 closed without grading) Answers: 50
Local time: 19:03

Selected answer:Neither really

Explanation:
It simply means that finanicial stocks are trading closer to their historical average discount as compared to the broader equity market.

Selected response from:

Gilbert Ashley

Grading comment

Thanks for your help!
4 KudoZ points were awarded for this answer

SUMMARY OF ALL EXPLANATIONS PROVIDED

5 +2

price to earnings

Gilbert Ashley

Neither really

Gilbert Ashley

Answers

3 hrs confidence:

Neither really

Explanation:
It simply means that finanicial stocks are trading closer to their historical average discount as compared to the broader equity market.

Gilbert Ashley
PRO pts in pair: 16

Grading comment

Thanks for your help!

3 hrs confidence:

peer agreement (net): +2

price to earnings

Explanation:
I forgot to add- multiples refers to the price:earnings ratio. If historically the broad based index has an average, say of 25:1 price to earnings ratio, and financials had an average of 15:1, they trade at a discount compared to the broad market. If, now thea are tarding at 20:1 P/E then they are trading closer to the market as a whole than they were before.

Gilbert Ashley
PRO pts in pair: 16

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