MAM's Gray: Industry has learnt nothing from Lehman Brothers crisis

Miton Special Situations manager also warns gold is ‘dangerous' at current levels

Martin Gray’s illustrious career running money spans more than three decades, and has seen him at the helm of the top-performing £648m Miton Special Situations portfolio for the last 14 years. Gray’s ‘aggressively defensive’ stance in tough markets has seen the fund achieve a return of 25.1% over the three years to 26 August, ranking it fifth in the Balanced Managed peer group, where it competes with offerings from stalwarts such as Crispin Odey and John Chatfeild-Roberts. Here Gray reviews some of his winning and losing bets during his time in the markets, explains why he is not afraid ...