The economic recovery in the US is real.We are encouraged by the strength of the US recovery and we believe we'll see GDP growth of 3% or more once some of the...

Magellan Asset Management Limited

The economic recovery in the US is real.We are encouraged by the strength of the US recovery and we believe we'll see GDP growth of 3% or more once some of the significant fiscal drags are removed. We should also focus on the overall number of people employed in America, which is nearing the all time record highs achieved back in 2007.We are much more reserved on the European situation cautioning investors against backing a cyclical recovery; We don't think Europe is on the verge of a cyclical recovery. Click the link below to view the latest Hamish Douglass video update. (VIEW LINK)

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