City Asset Management's James Calder explains why we are not facing the same turmoil as in 2008.
At our latest monthly tactical asset allocation meeting we made no changes to our model portfolios. Despite volatility returning to equity markets with a vengeance we do not believe we are back to the conditions of 2008. The elephant in the room (sovereign debt) is now very visible through the effects of a US downgrade, which looks to be politically inspired rather than based on financial considerations and continuing fallout within the EU. The sovereign debt issues that have been discussed for so long are now heavily impacting upon markets, however there are a couple of points that a...
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