Henning Gebhardt, a fund manager for DWS Investment GmbH, told Handelsblatt in an interview that equity valuations are cheap even when factoring in lower profits in the future as investors are too pessimistic.
A big crash is not conceivable at the moment as politicians and central banks move in the right direction, he said in the interview. Bank shares are a difficult topic as the industry is facing headwinds from regulators, the newspaper wrote.
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