Equities return to favour as the wheel of fortune spins

Value stocks are staging a comeback as Japan shows signs of revival

Equity investors were cheered by a dramatic improvement of sentiment in the final quarter of last year after trudging wearily through the first nine months.

Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch, hailed the switch last October. The "great rotation" from bonds to equities had begun, he said.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire