Delphi's Scott Black on how value will perform in 2021
Delphi Management founder Scott Black discusses whether value stocks will get back in the black next year and where he's investing now. The lower the interest rate, he says, the more you can justify high P/Es. It's the IPO market and the stay-at-home stocks which have nose-bleeding valuations. I think there's a lot of euphoria built into some stocks. We'll have to see whether these companies can generate earnings to sustain their market caps. There are many great companies out there, like D.R. Horton and MarineMax, he adds.
Wed, Dec 23 20203:47 PM EST