Three firms that will lead the recovery

Professional investor Simon James dismisses growth stocks and looks for firms offering solid, consistent returns. Here, he tips three companies with strong positions in growing economies.

Each week, a professional investor tells MoneyWeek where he'd put his money now. This week:Simon James, partner at Gore Browne Investment Management.

Equity prices probably reached their nadir in March. Investors now seem to have thrown off fears of another Great Depression. Indeed, such low levels probably represented the end of the long bear market that started in 2000. However, two major drivers of the expansion of the last two decades are still being reversed: debt, and de-regulation. This sounds the death knell for over-valued, leveraged financial assets. But a new long-term bull-market is emerging which, in the absence of major policy error, should keep going for many years.

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