Top of the market? - the series returns...-part 3

Thursday, 12 January 2017, 11:52 pm

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."

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[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

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