These Are The Top Questions Goldman's Clients Are Asking

Goldman trader Germaine Khong shares the most common debates and investor questions that Goldman Sachs sales & trading desk is getting in recent weeks. 

Bubble or not? 

The most compelling argument for why valuations are not yet at bubble levels is to compare returns in this past year – disaggregated between earnings, valuation and dividends – with returns back in the 12-months before the peak in the dot-com bubble.