Will 2011 be the year of the stockpicker?

Coming into 2010 the consensual view was that having suffered severe bouts of volatility in the preceding few years arising from top-down macroeconomic concerns, that markets would move on and focus increasingly on company fundamentals; how wrong we were. Fears on the sustainability of the global economic recovery, driven by a mixture of regulatory headwinds facing banks, a sluggish US job and housing market, monetary tightening in China and sovereign credit issues in some peripheral Euro zone economies has caused 2010 to be another volatile year for equity markets. So we ask ourselves o...