Equities still appear to be good value

Fund manager's comment

It occurs to me that when assessing the outlook for the stock market, we may all be guilty of being ...

It occurs to me that when assessing the outlook for the stock market, we may all be guilty of being a little too analytical in our thinking. A desire to have all angles covered means the facts can be staring us in the face, but we will choose to side-step the logical deduction. Take the equity market. There are few managers and analysts who do not believe the market is undervalued, cheap even, but then our first instinct is to explain it away. "Ah, but it's cheap for a reason," we say. Perhaps old habits die hard; after all, we have proved adept in the past at buying the market when it ...