SGAM is cautious on US

SG Asset Management is sounding a strong note of caution on the prospects for US equities on the back of aggregate directors share dealings and the likelihood of a slow recovery. Alan Torry, who manages the SocGen American Growth unit trust with Sam Mercer-Nairne, said directors of US companies are, on aggregate, selling three shares in their own companies for every one they buy, indicating they are not anticipating strong performance from US stocks. This contrasts with the autumn of 2001 when US share prices were marked down in the aftermath of the terrorist attacks in the US and dire...