Schroders' Buxton begins to buy domestic stocks

Schroders' Richard Buxton is trimming his resources exposure in favour of UK domestic stocks, an area...

Schroders’ Richard Buxton is trimming his resources exposure in favour of UK domestic stocks, an area he said fares well when the economy is going through a recession. He believes the UK will be in a near recessionary environment for the rest of 2008 and the bulk of 2009 and since 2007 we have had a massive bear market that has been disguised by soaring energy and resources stocks. “We have actually had a significant crash and bear market with many domestic economic sectors and companies down 50, 60, 70 or 80% and even 95% in some cases. “Anything to do with oil, resources or energy is...