Artemis' Stephen Snowden: What 30 years of fund management tells me about base rates

'Economic growth will be hard to deliver'

I entered the wonderful world of fund management 30 years ago this week.

The first major market event I experienced was the collapse of Barings Bank, which was sparked by 'rogue trader' Nick Leeson's outsized bet on the Nikkei. This was followed by the Asian Financial Crisis, the bailout and liquidation of Long-Term Capital Management, the dot-com bubble, the Global Financial Crisis and the eurozone crisis; most recently, of course, Covid wreaked havoc. You could be forgiven at this point for thinking of me as some sort of jinx. I would merely point out that the market suffered its fair share of shocks before I came along – and that it has also enjoyed ...