Equities outlook: This is a time for patience and caution

Equities outlook: This is a time for patience and caution. The Aussie sharemarket is attracting money because most people are fleeing pygmy interest rates. This could go on for quite a while but the further valuations expand from their underlying earnings stream the nastier the snap back will be. We don't spend any time forecasting the index but given the lack of value we're finding on a stock by stock basis the risks grow the further share prices increase. This is a time for patience and caution. With investors having done so well since the GFC we're conscious of preserving what we've got as much as finding opportunities