Investment: Stock markets are looking frothy, valuations stretched

Stock markets are looking frothy, valuations stretched. At some stage over the next 18 months, a market correction seems probable. Quantitative easing has fuelled global share prices. So, for equity investors at present a high level of selectivity and good homework is essential - on company management, market position, cost structure, cashflow resilience, diversity and financial firepower, and track record with acquisitions. It is on these criteria that DCC scores well. In my ...