Why I’m not as gloomy as the bears

Peter Walls, manager of Unicorn Asset Management’s Mastertrust Fund tells MoneyWeek where he’d put his money now.

Peter Walls, manager of Unicorn Asset Management's Mastertrust Fund tells MoneyWeek where he'd put his money now.

The summer months rarely produce rampant bull markets and 2004 has been no exception. Indeed, from both a technical and fundamental point of view, it would be tempting to say that, when it comes to equity markets, I wouldn't be investing in anything right now! The list of negative factors is endless: interest rates, the surge in the oil price, growing geopolitical risks, the plight of over-extended consumers Little wonder then that private investors are shunning equities, as evidenced by the 82% year-on-year fall in net retail sales of unit trusts/Oeics in June.

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