Top of the market? - the series returns...-part 3
Regular readers will be aware that I have recently re-introduced the "top of the market?" series since the FTSE 100 index started to flirt with fresh all-time highs.
However, little old Betaville likes to give respected commentators with a completely different pespective an opportunity to air their views to provoke thought and debate among readers.
So, in that spirit I have pasted below (apologies about the formatting) the introduction of a note from Mark Dampier and Richard Troue at FTSE 100-listed retail broker Hagreaves Lansdown, who clearly believe Western equity markets are nowhere near the top...
|As I write, the FTSE 100 is breaching yet another all-time high.|
|Yet in my experience the vast majority of investors - both private and institutional - remain unjustly pessimistic. Our own Investors' Confidence Index languishes at levels not seen since the height of the financial crisis.|
|This is why I've described the current market as 'the most unloved bull market of my career'. It's also why I believe it could have much further to run.|
|Legendary investor John Templeton famously proclaimed in 1994 that bull markets are "born on pessimism, grow on scepticism, mature on optimism, and die on euphoria."|