“Hello I agree With you on everything but short term I disagree for reading explained by Russell Napier in this interview, could you explain how come you’re bullish when in Europe real interest rates are high and credit is contrasting drastically? Isn’t credit important?  Global Mantra - Outlook 2014: In Conversation with Russell Napier, Consultant strategist, CLSA ...”

David Fuller's view

Thanks for the Russell Napier interview.  I agree and have said that 2014 will be a tricky year for markets but I am less bearish.  Europe’s markets are doing well precisely because Mario Draghi of the ECB has provided effectively unlimited credit to European banks.  Therefore, and although Europe has immense problems, I would not be too bearish while the DJ Euro Banks Index remains in overall recovery mode.