The Boyar Value Group just released our latest quarterly letter to clients.
Overvaluation against historical averages does not mean that investors should avoid equities, because extraordinarily low interest rates make prior valuation comparisons less meaningful. More important, at The Boyar Value Group, we don’t buy “the market”; rather, we purchase, and hold, businesses that sell far below our estimate of their worth. It might be especially hard uncovering bargains right now, but we’ve identified quite a few businesses selling at attractive levels even so.
Source: JP Morgan Guide to the Markets.