Neil Woodford, who enjoyed strong performance in the wake of the dotcom crash, has warned the economy is once more in a bubble and has again positioned his portfolio to benefit from when it "inevitably bursts".
The manager of the £8.2bn Woodford Equity Income fund has once more been focusing on unloved and undervalued stocks as he believes these will benefit when the bubble bursts as it did in the early 2000s. He said: "Obviously the late-90s dotcom bubble was a painful period of performance for me but, in the context of history, it was a brief dislocation. "By focusing resolutely on fundamentals, my funds enjoyed a meaningful period of positive performance when the bubble burst, continuing to rise in value as the market plummeted in 2000 and 2001. "In the dotcom bubble it was the old eco...
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