Spare a thought for the analysts, bankers and fund managers who make a residing from European shares. In case your wage is determined by speaking up the stockmarkets of the continent that invented them, you’ve got discovered to reside with disappointment. For a lot of the previous 20 years, you can have identified that European shares had been cheaper, relative to earnings, than American shares. You can have fairly argued that this portended higher funding returns and fewer threat of crashes. And for all that point you’d have been totally, gloriously fallacious.
