Lang: best opportunities since 2003

Liontrust manager comparing current conditions to deep value trough before last bull run

Liontrust's Jeremy Lang is comparing current money-making opportunities in the All-Share to the deep value trough before the bull run started five years ago. He is buying companies yielding significantly more than gilts for his First Income portfolio, which he deems victims of market overreaction. "There are more than 150 stocks in the All-Share yielding over 7%, around the same number as in March 2003," he said. According to Lang, there have been 15 occasions since 1900 when stocks have started the year yielding much more than gilts. Over the following five years, dividend growth a...