Value stocks “have had a decade from hell” says The Economist. Over that period their returns have lagged behind the average for the American stockmarket as a whole by more than 90 percentage points.

Emerging markets offer many attractive firms that offer growth regardless of conditions in their domestic economies, say New York asset managers Jennison Associates.

The US government is pumping money and credit into the economy on a mindblowing scale equated with a war-time splurge. The excuse is that it needs to counter the damage done by the pandemic, but the Biden administration views it as an opportunity to pour money into its favoured interests – voters, welfare, public services.

The consensus view of the US central bank and of economists is that the coming surge in prices will be temporary and therefore not to worry about too much. Several factors support the opposing view on inflation…