Since stock markets began in 1792, when 24 brokers and merchants signed the Buttonwood Agreement, timing the markets has become one of the most challenging tasks for investors...
It is not an enviable job. But, compared to Russian miners – who risk being buried alive for at most £1,000 a month – we, the financial crowd, should not complain. After being bearish on the markets for a good part of the past 12 months, I believe it is the right time to start increasing exposure to equity markets, and emerging markets in particular. First of all, valuations after the recent correction are looking very compelling relative to history, even given the uncertainty of the current global recovery. Emerging markets are trading at 9.7x 2011E P/E – a marked improvement from ar...
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