Investors are far too pessimistic about the UK stock market’s long-term prospects. Certainly, inflation remains above target, interest rates stand at a 16-year high and the economy is experiencing a recession. But the rate of price rises is widely expected to return to the Bank of England’s 2pc target over the coming months, thereby allowing interest rates to be cut and the economy to return to positive growth. This process is extremely likely to have a positive impact on UK share prices. In the meantime, investors have an excellent opportunity to buy high-quality companies while they trade at attractive prices due to ongoing short-termism among the investment herd. Indeed, Questor will use this buying opportunity to increase the number of UK-listed stocks in its income portfolio. Excluding investment trusts, the portfolio currently only contains one UK-listed company, Legal & General. But over the near term, this list will be expanded to include a wide range of solid businesses that provide sound income-investing prospects over the long term. The first addition in this process is Tesco. It was first tipped as a buy in this column in October 2017, but has not yet been a holding in our income portfolio. Its...