The stock market appears at the moment to be fairly valued. However, if the economic recovery appears to be sustainable it could very well go much higher. This current enviornment is great for stock pickers like myself. Over the last year, a monkey could have returned in excess of 50 percent by simply throwing a dart at a random list of stocks. In fact, it was the "junky" companies that rose the highest. These are the companies with horrific balance sheets and murky operating prospects.
A great deal of stocks to me seem to be fairly valued or even over valued by the market. But when you dig deeper there are many bargains throughout many industries. So this is the time when the stock picker really shows his true value.
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