Investec Asset Management's John Stopford, manager of the Diversified Growth fund, outlines his five themes for investing for income in 2014, including a cheap dollar, inflation disappointment, and opportunities in EMD.
Consensus looks wrong on the pricing of US growth and Federal Reserve policy To us, the consensus looks most wrong on the pricing of US growth and Federal Reserve policy. The FOMC is certainly dovish, but it is also data dependent. Markets do not currently appear to believe in the scope for a significant acceleration in US growth. Economists have forecast this before, but growth has disappointed, and so they are once bitten, twice shy. We think this ignores the impact of fiscal policy which has been substantial. In some ways, growth in 2013 of between 1.5%-2% is quite impressive given...
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