Russell Napier: Best Long-term Returns Available in Europe Currently

By on May 31, 2012

Financial historian and author of Anatomy of the Bear, Russell Napier was interviewed by The Financial Times a few days ago.

Although Napier didn’t say he would be buying them now, he finds European stock markets attractively priced. He said some of the markets are back to the levels they were in 1982.

Napier said the trigger for a European market turnaround would be the countries establishing their own central banks and embarking on reflation.

Napier said he wasn’t so sure European equity prices would decline much upon countries exiting the Euro currency. He added if he could leave investors one tip it would be that equities can become so cheap that they discount just about everything. We’re getting close, but we’re not their yet said Napier.

Risks that investors can’t discount for is governments seizing company assets or the enemy bombing of cities according to Napier.

The interview (available at the source link) continued with Napier commenting on what would make the Greek stock market recover (reduction of bankruptcy risk), his view that things will get much worse in the U. S., and what could lead to a collapse of the U. S. Treasury market.


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