Economics: Plenty of reasons to be bullish

There is a big difference between what investors say and what they actually do. The market set back ...

There is a big difference between what investors say and what they actually do. The market set back earlier this year did not come as a surprise and there is a remarkable consensus that it represents a mid-cycle correction rather than a buying opportunity. Everyone expects a dull summer followed by a renewed advance in the autumn, but few have done anything about it. The familiar excuses are trotted out, including summer doldrums, geopolitical risk, interest rates and economic uncertainty. What they amount to is waiting for the collective decision of the rest of the herd, when it will be ...