REVIEW OF THE YEAR: How did you fare in 2013?

REVIEW OF THE YEAR

Annabelle Williams asks four managers about their winning and losing trades of the past 12 months.

Stewart Richardson, partner at RMG Wealth Winner: Japanese equities We were very bullish on Japan so went long Japanese equities, and short the yen from November 2012. At one point, the most a private client portfolio had in Japan was 45%. We had taken profits on everything by May, and put our toes in the water again in August. Loser: EUR CZK call options For most of this year, we had been expecting the Czech central bank to revert to a weaker currency policy to help stimulate their economy. They had previously cut interest rates to just 0.05%, inflation was already extremely low, an...