Alister Hibbert,“cult of equity”

if global recovery not double dip, those multinationals's yield would be priced higher as they sell into EM

‘Cult of equity’ is over, says leading fund manager
By Richard Milne, Capital Markets Editor

Published: September 8 2010 18:13 | Last updated: September 8 2010 18:13

The “cult of equity” is dead as dividend yields in most of the west have risen above bond yields, according to one of Europe’s leading equity fund managers.

Alister Hibbert, a fund manager in European equities at BlackRock, told the Financial Times in a video interview that the cult started when dividend yields fell below bond yields about 60 years ago.

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