Edinburgh Managed Growth fund manager Harry Morgan believes that UK stock market valuations are now ...
Edinburgh Managed Growth fund manager Harry Morgan believes that UK stock market valuations are now starting to look cheap relative to profits growth. Over the past 30 years, when long-term UK company profits have risen, so have stock markets. But, he argues, this is no longer true. 'If you look at the gross trading profits of UK companies over recent months, then profits have kept on rising but stock markets have fallen. We see this as being quite encouraging and believe that some sectors are now offering good value,' he says. Technology is not one of these sectors, according to Morg...
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