European equities have their attractions but the continent's economic position will disappoint investors for years to come, according to Carmignac Gestion's Frédéric Leroux.
Consensus opinions over the strength of the US and Chinese economies should be viewed with suspicion, according to Henderson's John Bennett, who has compared analyst forecasts to "fairy dust".
As risk appetite returns and investors begin to dip their toes back into European equity markets, S&P Capital IQ Equity Research has revealed its ten ‘power picks' for 2013 from the European stock universe.
One of the industry's most widely followed strategists, Albert Edwards, has said depressed European equity markets are a once in a lifetime opportunity for investors following the savage sell-off in 2012.
Last November Argonaut's Barry Norris celebrated a decade managing European equity funds, through a period that has seen the end of the dotcom era, a global financial crisis, and a sovereign debt crisis in Europe.