Questioning perceived wisdoms

During challenging times within European equity markets, it is easy to take a bearish stance on the year ahead. But despite the headwinds, the foundations upon which these markets are built can offer up some compelling opportunities...

It is easy and rational to be bearish on European equity markets for 2009. Many people will be aware this is the worst retail environment since the Great Depression, largely because Robert Peston repeatedly tells them so, and 2008 was one of the worst years ever for stock market investors. In the same way as it can be easy to get caught in the euphoria of a bull market, however, so it is important to question perceived wisdoms during more challenging times. There will no doubt be significant headwinds for investors in 2009 but there are also compelling opportunities in certain regions and...