If I had to characterise my attitude towards equities at the moment I'd probably have to say that they are the 'best of a bad bunch'. I realise that describing equities as the least worst of a fairly unappealing crowd of alternatives (bonds and commodities being the obvious choices) sounds a little grudging yet, deep down, I'm mildly bullish about equities for the remainder of this decade. In fact I'm so confident that I have drawn my cash levels down to the lowest level in absolutely ages - my cash reserve currently stands at around 12 per cent (down from as much as 40 per cent at the beginning of the year).
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