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A Top Global Stock Fund Now Prefers Macy’s to Amazon

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One of the world’s top-performing global stock funds is betting against Amazon.com Inc. It’s not so much that Amazon won’t flourish, but that the recent rally in global technology behemoths has made brick-and-mortar retailers cheap in comparison, according to Norwegian fund Storebrand Global Multifactor. The valuations right now are “too pessimistic for the retailers and…

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