Dresdner Adds Its Voice to the Share Buy Chorus ; Market Round-Up

Evening Standard - London › November 13, 2008

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Summary

DRESDNER Kleinwort is the latest among a growing number of brokers that has begun urging clients to start looking to buy the stock market.

It has raised its rating on the equity market from underweight to neutral, and insists it is not attempting to catch a falling knife. Respected equity strategist Philip Isherwood, who called the top of the corporate takeover market back in summer 2007, says: "We are buying the luxury of being able to wait, and the ability to stay patient. There comes a time when everyone is bearish, when bad news can't shock and markets decouple from the data flow and start to look forward again."

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Extract

Dresdner Adds Its Voice to the Share Buy Chorus ; Market Round-Up

That's the point investors are seeking, but has it really been reached yet? Isherwood points to a 40% decline and "record low" valuations, which make the recent rally look for ...

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