Malcolm Stacey is a great man and one of the nicest guys in shares. But his bullishness about equity markets is wrong. And here is your 10 point checklist as to why it is right to be bearish.
The Malcolm thesis (see HERE) is that UK Corporate earnings are increasing rapidly as the UK economy grows and that is set to continue well into 2015. For what it’s worth I agree with him. The UK economy is doing (relatively) well but I’d caveat that UK PLC generates a large portion of its income abroad where life is less jolly and where – given the strength of sterling – earnings when repatriated will be less in UK terms. But other than that I agree with the Stacey thesis so far. But here are the 10 reasons why I am bearish.
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