The stock market giants with rock-bottom valuations

Investors can be forgiven for thinking that the roof is falling in at the moment. Each day seems to bring with it news of another sovereign debt downgrade in Europe as the continent’s politicians vacillate further, while the outlook for growth in the global economy is looking increasingly gloomy, with the IMF’s downgrades of GDP estimates for the major economies adding to the despondency. Not 2008 redux We have been more optimistic than many on the UK and global economy in the past couple of years, but we recognise that the macroeconomic picture has undoubtedly deteriorated over the...