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The article is rather weak with little substance. Why and how are high share valuations relevant? How does GS arrive at its forecast of 3%? All a bit vague...

In my opinion, however, they are right. In the next 10-15 years, B&H WeltAG investors will have a lot to endure, US equity holders anyway.
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Goldman Sachs also had $1COV on its "Conviction Buy List" at the beginning of 2022 with a price target of €91 or so 😅
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