'With hindsight' is a phrase to explain or apologise for embarrassing errors. Andrew Smithers, author of 'The Road to Recovery', tells John Authers how hindsight can also be used to test whether a stock market was over or undervalued at any given time.<br /><br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
