The US stock market continues to rise but we have to ask ourselves "is this justified?" The outlook ...
The US stock market continues to rise but we have to ask ourselves "is this justified?" The outlook for economic growth and corporate earnings is positive enough. US bond valuations look less demanding than they did last summer. Although the stock market has come a long way and inflationary pressures are rising, we believe that prices are reasonably well supported around current levels. Despite this generally sanguine view, our managed portfolios hold an underweight exposure to US equities. Indeed, over the past three months, we have shifted money out of the US to other areas. This action ...
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