It’s been rather difficult to find many defensive shares as of late. I do believe the market is rather bearish at the moment with some shares being punished heavily on bad news, and some sectors such as Retail finding things incredibly difficult. And this is reflected in the valuations of companies: on average, the Consumer Defensives sector is one of the more expensive ones on a price/earnings basis, only being outdone by Technology and Utilities. This comes as little surprise to me, as investors are either willing to pay more for something with decent prospects of growth (such as technology) or a greater certainty of earnings (such as utilities).
Pure Passive Investor. Always looking for ways to make money (but not myself) work harder.