Neptune's Geffen: This is not an environment for complacency

Large caps are the place to be over next ten years

Our base case for the UK economy is that growth continues to disappoint under a toxic mix of Brexit uncertainty, sterling depreciation-driven inflation and decreasing consumer confidence.

The UK's surprise recovery post the EU referendum last year was largely driven by consumer spending and this, as we have seen in recent months, is proving unsustainable.  At a company level, however, the UK's weakness relative to an increasingly strong global economy is providing us with ample opportunities to hunt for yield. Internationally-facing UK companies are the main beneficiaries of a weakened sterling and increasing international purchasing power. Gallery: The UK's 12 most-shorted stocks Large caps with overseas earning streams have been completely mispriced because of ...