IFAs back immediate market renaissance

The wealth manager canvassed the views of 145 advisers earlier this month. They were asked to predict where they thought the index would stand as of 1 May 2009. The results showed a wide range of forecasts from 3,200 to 6,400, though the average prediction was at 4,952. As of 2:45pm today (28/11/08), the FTSE 100 stood at 4,220. When Rowan previously asked for IFA predictions in November 2007, the average was a market level of 6,401. The actual market level in May 2008 was 6,087, an overshoot of over 300 points. However, during the bull market period of 2005 and 2006, the sample had und...