I expect the equity market to be lower at the end of 2015 than at the start

I expect the equity market to be lower at the end of 2015 than at the start. My outlook for slow economic growth and the removal of excess liquidity globally, lies at the core of this prediction. Breaking down the factors behind the soft economy are 1) Slowing world growth, led by a Europe in disarray and slowing demand from China 2) Business investment and top-line sales growth remains weak 3) Anticipation of the US and the UK starting to raise interest rates during 2015, which will eventually become a drag on global equity markets. On a positive note, we think the medium to longer-term fundamentals of the sharemarket are more compelling. When the excess liquidity has been removed from global markets and the domestic economy shows signs of sustained growth, a multiplier effect on corporate profitability will again drive stock valuations. Read the full article including Geoff's favoured themes and three stocks exposed the these themes: (VIEW LINK)