Ardevora's Jeremy Lang has predicted global markets are halfway through a 12-week equity rally, and his team have wound back long US consumer positions as a result.
Lang, co-founder at Ardevora as well as co-manager of the Global Equity fund, said more growth companies are coming onto his radar as a result of improving balance sheets. However, he added the bounce in markets is unsustainable in the face of ongoing global macro concerns. “It is becoming easier to find good growth businesses that are starting to kick forward again. We have not had a great start to the year as there has been a rally in the trash, which we tend to be short of, but we do not think these kinds of rallies last longer than three months and we are halfway through that. “Th...
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