Despite rising bond yields through most of 2020, continued low interest rates have underwritten record valuations across markets. Meanwhile, rampant M&A activity is highlighting private markets’ confidence that favourable economic conditions will continue - in contrast to public investors' views that PE ratios are too high. 

For investors looking for growth, it seems that frothy valuations are the norm. And while this trend may be fuelled by continued favourable economic policy, that doesn't mean one should be valuation agnostic.

Emma Fisher from Airlie Funds Management and Kelli Meagher from Sage Capital agree that finding growth at a reasonable price is a challenge in today's environment - but not impossible. In this Buy Hold Sell thematic discussion, James Marlay investigates the economic factors driving current valuations, how to identify growth names at an appropriate price and two names that our guest fundies think ticks these boxes.  

Note: You can read an edited transcript below: