Home of the brave: Why US stocks still have a long way to run

Home of the brave: Why US stocks still have a long way to run

clock • 4 min read

Felix Wintle, manager of the Neptune US Opportunities fund, addresses concerns that there is no more value to be found in the S&P 500.

The US stock market had a stellar year in 2013. However, some commentators are now concerned that the market has had its run and is now a sell. I disagree wholeheartedly with that view: from where I stand, the future looks very bright for the US market. Valuations Investors' biggest issue usually revolves around valuation, so let us start there. With the forward P/E ratio on the S&P 500 at around the 16x level, I would say it is neither cheap nor expensive; indeed, it sits around the ten-year average. The chief concern I hear is that the P/E has expanded without the earnings grow...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK ups defence spending to 2.6% of GDP by 2027 as billions pledged

UK ups defence spending to 2.6% of GDP by 2027 as billions pledged

Chancellor delivered Spending Review

Sorin Dojan
clock 11 June 2025 • 4 min read
Chancellor to pledge billions to 'invest in Britain's renewal' in Spending Review

Chancellor to pledge billions to 'invest in Britain's renewal' in Spending Review

Rachel Reeves to unveil Spending Review later today

Linus Uhlig
clock 11 June 2025 • 1 min read
Five years on from Covid: What's next for markets?

Five years on from Covid: What's next for markets?

It is now five years since the start of the UK’s Covid lockdown. Since then, we have seen considerable market and geopolitical-related change. Here, William Marshall looks back over the past five years and also explores what we might expect from markets...

William Marshall
clock 06 May 2025 • 4 min read