Outlook for revenues and profits looks very positive

ON ASSET ALLOCATION

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It is the time of year when we all start gazing in to the New Year with hope. I don't know about anyone else, but I cannot wait for this year to end.

It has been a year of unerring unpredictability, numerous false dawns and extreme volatility; perhaps the ultimate annus horribilis for global investors. There have been pantomime villains all over the place, particularly in the form of European and American politicians, destabilising the global economy and doing their level best to shatter confidence in asset markets. Surely after such a battering in 2011, financial markets are due some respite as we move in to 2012. Volatility will be with us to stay, as issues over the solvency of governments and liquidity in the financial sector r...

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