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...
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