View the article online at http://citywire.co.uk/wealth-manager/article/a733669
Neptune’s AA-rated man likes Rathbones but not financial ‘cockroaches’
by Robert St George on Feb 19, 2014 at 13:44
Martin points to research indicating a strong correlation historically between such valuations in the UK and subsequent returns, which from a starting P/E of 13 have tended to be followed by annualised returns of around 7% through the next decade.
He concedes, though, that he is now less risk tolerant than he was in 2009 and 2010. Then he snapped up cheap stocks, which has propelled him to the absolute pinnacle of the IMA UK All Companies category on a three-year view. Through that period he has returned 94%, compared with 34% from his peer group and 49% from the FTSE 250.
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by Dylan Lobo on Jul 28, 2014 at 15:00