A leading multi manager said to me the other week that it was "a strange recession" we are living in, as he related how a relative of his who ran a small boutique (as in clothes shop, not asset manager) had hardly noticed a slowdown in trade.
We ruminated about this over breakfast as he discussed how a big part of our industry is chasing whatever is going to be the next top-performing asset class when the answer is simple – diversification. Now, he would say that, as that is how he earns his money. I happen to agree with that these days – and yes, he did pay for breakfast. But there are other signs I have noticed that it is a strange recession: Leicester Tigers Rugby Club is talking about floating on AIM next year, and an American Basketball League with ‘franchises’ for major English Premier League football clubs might also k...
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