The old year and a few more weeks
Just as the flood of optimistic New Year forecasts started to subside, risk moved back up to the top of the agenda and what did well last year was hit by sustained selling. Market volatility increased by 50%, says David Miller of Cheviots.
He observes that valuation and growth potential remain the cornerstones of successful investment. And that while the twin pillars that had supported markets in 2009 suffered a one-two punch when the Chinese tightened up on bank lending and President Obama announced his plans to restrict the trading activities of US banks, it wasn’t that bad a year. The returns achieved were better than expected.
David's report The Old Year and a Few More Weeks can be viewed here.
Author: David Miller
David Miller joined Cheviot Asset Management in 2007 as partner to lead the alternative investments team having previously held roles at Royal Bank of Canada and JP Morgan. Prior to that he was director and head of charities at Robert Fleming.
There are no comments on this article. Be the first to comment.