Market cheapest it has been for years

It is not difficult to find bull points for the UK market. The fundamentals are not bad and the market is cheaper than it has been for years. However, the current bear market is a worldwide phenomenon and the UK stock market cannot recover alone. While there are reasons to be bearish, I find the positives more convincing than the negatives. First and foremost, the market is cheap. The P/E ratio is about 17x 2001 earnings with the prospect of further profit growth next year. This is as low as the rating has been for several years. This reflects the fact that the market has gone sideways fo...