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Equities 'Extremely Cheap': Nomura Strategist

Monday, 3 Oct 2011 | 3:10 AM ET

"The market is priced in our view at extremely cheap prices, back in line with the lowest valuations we saw at the end of 2008 and 2009. We think over the medium term stocks represent good value," Ian Scott, chief global & European strategist at Nomura, told CNBC.