Sam Liddle: Sticking to our knitting as we head into recession

The confidence with which the year started, a new UK Government with a working majority and a Brexit strategy in place (what do you think has happened to those negotiations?), all seems like a distant memory. So much for our contention in Q4 last year that we were past ‘peak uncertainty'. Everything changed over the last two weeks of February, as the realisation dawned that the coronavirus had got out of China and quite how virulent it was. In our January report, we suggested that it was getting harder to find value and that the relationship with underlying corporate earnings was right a...