Learning from past mistakes

For most investors, the year 2003 will be not be remembered with particular fondness. Despite strong recoveries in equity markets, the vast majority of investors have remained heavily underweight in equities, and therefore not been able to profit from the upturn. Investors have been thrashing around looking for alternatives to equities - and in the Western, English-speaking countries, the alternative investment of choice has for many been property. And of course the fortunes of the property market will be one of the big themes of the coming year. Despite the insistence by mortgage lende...