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Feb 12, 2026
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LONG
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Bell notes US markets are expensive and concentrated. Europe offers exposure to "Old Economy" sectors (Industrials, Materials) and trades at lower valuations (UK at 13.5x PE). As investors seek diversification away from the US Dollar and US Tech concentration, flows will move to cheaper, cyclical markets like Europe and the UK. LONG Europe/UK as a valuation and currency diversification play. European economic growth remains stagnant compared to the US. |
Bloomberg Markets
Bloomberg Surveillance 2/12/2026...
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