Woodford hopes to repeat post-dotcom bubble success as he warns 'so many lights are flashing red'

'Be careful chasing the 'zeitgeist''

Well-known fund manager Neil Woodford, who largely gained his success and popularity following positive performance after the dotcom bubble, has said the economy is yet again in a bubble, which he has again positioned his portfolio to benefit from when it "inevitably bursts".

The manager of the £8.2bn Woodford Equity Income fund has once more been focusing on unloved and undervalued stocks as he believes these will benefit when the bubble bursts as it did in the early 2000s. He said: "Obviously, the late-90s dotcom bubble was a painful period of performance for me but, in the context of history, it was a brief dislocation. "By focusing resolutely on fundamentals, my funds enjoyed a meaningful period of positive performance when the bubble burst, continuing to rise in value as the market plummeted in 2000 and 2001. "In the dotcom bubble it was the old ec...