The stock market’s near-historic gulf between the priciest and cheapest stocks creates the opportunity of a decade for investors, according to a portfolio manager at the Julius Baer Group Ltd.-controlled Kairos Investment Management Ltd.
Even as this year’s rally added $9 trillion to the value of global equities, outflows have continued, preventing pockets of the market from erasing December’s sell-off and expanding a gap in valuations between some stocks.
