CHART OF THE DAY: Goldman Sachs Says Australian Stocks Are Overvalued

ASX futures are down in overnight trade even though US markets are up again.

It’s a continuation of the recent underperformance which has been a bit of a conundrum for those traders who are not immersed in the Australian Stock market.

But Goldman Sachs’ outlook for 2014 which they released yesterday has a clear explanation of why the ASX continues to underperform.

Put simply, Australian stocks are over valued.

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