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...
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