| It's over. The earnings recession that has plagued investors for the past two years, and acted as a handbrake on the local sharemarket whenever it looked like it could really take off, is finished and the major S&P/ASX 200 Index is now on track to make its way to 6000 by the end of next year.
That's the view of Credit Suisse equity strategist Hasan Tevfik and if he's right it will have some very important implication for portfolios. The last couple of years have seen more defensive portfolios outperform growth-oriented investments, but if interest rates in the US are heading higher and profits are about to improve it should cause a few investors in both managed funds and superannuation portfolios to look at their strategies.........................................Full Article: Source
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