Equity Values Fair, Can Climb With Earnings: Weiss

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Nov. 22 (Bloomberg) -- Richard Weiss, senior portfolio manager at American Century Investments, examines the value of equities and which industries he sees leading the markets in 2014. He speaks on Bloomberg Television’s “In The Loop.”

You are starting to look further at valuations.

As you know, we have been overweight in stocks for some time now.

We continue to be overweighted in that sector at the margin.

The metrics indicate we are in fair valuation territory.

Not to say stocks cannot go further.

But it will be dedicated on higher earnings to come.

We are not as bullish as we have been.

There will be a horse race between those higher mid-cap company and -- companies and the other companies.

The u.s. has been one of the leading markets the last few years.

Developed europe has now turned around.

There is where the impetus comes from.

Multinationals in the u.s. as the recovery continues and this bull market continues, the demand will come from europe.

We will see multinationals, particularly those companies that trade heavily, they will be the leading set his next year.

We have our bloomberg poll results out today.

Something is interesting that i want to read for you.

68% of those polled say they are pessimistic about the impact president obama's policies will have on the investing climate.

Does that worry you?

We do not see it in the numbers.

If that is true today, it would have been true over the last several years.

Look at what the stock market has done.

Look what the health-care care sector has done, one of the leading set is in the stock market for the last year or two.

It is not a leading factor in equities these days.

What is your take on when we are going to see some sort of tapering?

What are you pricing in?

American century's text income -- fixed income team has prepared our portfolio by lowering the duration.

We are preparing for higher interest rates and eventually higher inflation.

Thank you for joining us.

Coming up, a look at kmart's layaway ads and the viral videos they are producing to juice up holiday sales.

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