Artemis, Fidelity, Threadneedle call 2005

Philip Wolstencroft (Artemis), John Stavis (Fidelity), Laurence Mutkin (Threadneedle), Michael Taylor (Threadneedle), Alex Tarver (Fidelity) and Mark Tyndall (Artemis) respectively outlined several reasons why this would be the case. Philip Wolstencroft starts by warning forecasts should be taken with a pinch of salt, or as he states it: "If forecasts were accurate, socialism would have worked.". His view is there are two ways of trying to forecast: take the most over and underowned sectors in the market and reverse them through next year,so-called mean reversion, or, look for trends ...