Post-war era's longest bear market is over, says Miller

Professional Adviser
clock

LEGG MASON's BILL MILLER SAYs indications are the US BULL market ended on 9 OCTOBER

The US bear market came to an end on 9 October, according to Bill Miller, US Value fund manager at Legg Mason. Miller cites many reasons for his view, chief among them is his belief that valuations of individual securities reached levels in early October that made investing safe. Historically, September is the weakest month and markets have tended to bottom then or in October. Added to this, he said, companies often issue profit warnings in September, putting further pressure on stocks. Now, as earnings start to be reported, most companies are exceeding lowered expectations, providing...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •