Mundy: M&S restructuring signals Groundhog Day for the retailer

My guess is that the 'bored-o-meter' is currently flashing at extreme levels for the average UK equity investor.

To anyone other than the 'growthinistas' ("is Unilever still only on a price-to-earnings ratio of 22? When is it going to get fully re-rated?") or the full-fat value investors ("copper miner Kazakhmys is still 92% off its all-time high. Unbelievable opportunity!"), most stocks appear to be hovering around that fuzzy area labelled 'fair value' and most investors appear to be waiting for something to happen. Fortunately, the dull times have been slightly roused recently by a Marks & Spencer (M&S) restructuring announcement. Obviously, those of us of a certain age have been here many tim...