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The combined market capitalization of global equities exceeded $70 trillion for the first time last week. This represents a 175% increase in global equity value from the trough level of $25.5 trillion in March 2009.
Having seen the energy sector retreat over the last 6 months both in Canada and the US, we wanted to see if any sector based opportunities from a valuation perspective had developed as a result. (Please note that we have excluded Financials in our discussion below as the majority of assumptions involve EBITDA).