Exactly. Although I think his main point is, he prefers Euro shares in general, over several Brit companies he names.
If you read this kind of stuff all the time you will at least be going in the same direction as well informed investors and less likely to be blindsided.
Last year my wife got all excited about a flier Fidelity Investments sent us. They had founded a new mutual fund, to specialize in 'undervalued' (not yet widely known) Asia small-caps. She moved over a couple thousand $ from a cash fund that was earning about 5%, and watched it daily.
It went way up. Whatever Fidelity was buying, everybody suddenly wanted. Wife was excited - what great foresight! Then the mortgage crisis hit the US. Her stock came down - those small companies need to manufacture stuff for US consumers to stay profitable. She noted today she's right back to equal to the return on her interest-earning savings. Not a bad investment, it's just that this isn't the right time for that sort of firm to prosper. At least she knew to not buy finance company stocks!
Me, I'm waiting for the Bush era to be over. Until then anything could happen and I'm not going to bet my money on it. But I do think Euro stocks will do better than the US for a while.