Not such a happy new year

What will the new year bring and what lessons have investors learnt in 2008 that will help them make the most of 2009?

No-one could have estimated the sheer extent of write-downs, volatility and upheaval last year would bring. Indeed, we were not bearish enough going into 2008. Suffice to say that the doom and gloom dragging us into the New Year suggests that lesson number one of this economic cycle has been learnt - the more bearish for now, the better. The economic outlook is predicated on how well governments are able to instill confidence in the banking sector and in the labour market. There is no disguising the fact that the UK is in the 'eye' of this particular storm and will be one of the last econ...