A double-digit stock market correction will prove the wake-up call to spur policymakers into action on the eurozone crisis, and could prove the perfect time to buy European stocks, according to Justin Oliver.
Oliver (pictured), deputy head of asset allocation at Collins Stewart, said he is waiting for such a correction to put cash to work in European equities once more. October’s IMA figures showed investor appetite for equities outstripped bonds for the first time in a year, with money starting to flow back into European equity funds in particular. However, Oliver is not convinced now is the right time to add to risk assets due to his concerns over the US fiscal cliff and the risk of more bad news from the eurozone. While the US fiscal cliff issue is set to be resolved on 1 January 201...
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