BY Bruce Miller, investment director, US equities, at Scottish Widows History warned that a stoc...
BY Bruce Miller, investment director, US equities, at Scottish Widows History warned that a stock market bubble was brewing in the late 1990s, a bubble that reached its spectacular peak in March 2000. How good it felt towards the end of 1999, when US equities had provided a total return of 27% per year since 1995. As good as it felt in 1999, it was not an appropriate time to buy equities. Now that we are decisively back in the old economy and 40% below the peak of the S&P 500 index, it feels a whole lot different. A stuttering economic recovery, geopolitical risk of major proport...
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