Ardevora's Lang: 2016 was the 'final rejection' of 40 years of economic wisdom

2017 also 'ripe for change'

Jeremy Lang, partner and fund manager at Ardevora Asset Management, explains why 2016 represented a 'seismic shift' in economic policy not seen since the 1970s.

Most predictions in the stockmarket are complex, long-winded affairs that cannot be reconciled quickly. New information arrives every day. Most information may seem irrelevant to a particular stock, yet stock prices move all the time. It can be tempting to see a rising stock price as confirmation of a view - after all it could be signalling that more people are becoming converted to your own view. Stock price changes not only signal to potential owners or sellers of stocks. They also signal to the people who inhabit the companies they represent. It is this aspect that made 2016 so int...