Modest gains only on cards

By Tony DolphinJuly 2001 (Magazine)

The major valuation anomalies of the past few years – equities overpriced relative to bonds, TMT (technology-media-telecommunications) stocks overpriced relative to other stocks, and large-capitalisation stocks overpriced relative to small-capitalisation stocks – have been largely eliminated. Most equity and bond markets are now trading close to fair value, as are ...