jeanmichel
New member
Source: https://personal.vanguard.com/us/fu...t=INT&FundId=3358&funds_disable_redirect=true
I don't know much about this space, which is why I'm asking here. I recognize that the P/B is likely inaccurate as the assets are illiquid and probably have not been depreciated appropriately. P/E seems too good to be true, too, but the only explanation I can see there is "optimistic accounting" in the ~22% of the fund in emerging markets, which isn't a satisfying answer.
I assume these are the wrong metrics to use for valuing this ETF - should I be looking at cash flow instead? More generally, ignoring the current valuation, thoughts on putting ~5% of a diversified long-term portfolio in this (in a tax-advantaged account, of course)?
I don't know much about this space, which is why I'm asking here. I recognize that the P/B is likely inaccurate as the assets are illiquid and probably have not been depreciated appropriately. P/E seems too good to be true, too, but the only explanation I can see there is "optimistic accounting" in the ~22% of the fund in emerging markets, which isn't a satisfying answer.
I assume these are the wrong metrics to use for valuing this ETF - should I be looking at cash flow instead? More generally, ignoring the current valuation, thoughts on putting ~5% of a diversified long-term portfolio in this (in a tax-advantaged account, of course)?