Big cap stocks are the place to be next year, with a steady performance from bonds, according to a briefing outlining investor themes for 2005 hosted jointly by fund managers from Artemis, Fidelity and Threadneedle.
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 ...
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