Scott sanguine on 2008 share scenario

The F&C UK Growth & Income fund manager says although the economy and housing market could continue to slow further, he has left the “bear” camp. “This time last year I was relatively cautious on the outlook for markets,” Scott says. “Excessive levels of speculative activity, fuelled by high leverage and cheap credit, were unsustainable. I felt that after a bumper run for equities a significant correction was on its way.” But a year on Scott is “pretty sanguine” on market prospects, aided by yesterday’s Bank of England rate drop. “The stock market is an aggregation of everyone’s expect...