Schroders' Yeadon predicts late '09 recovery

UK corporate earnings could fall by 40% peak to trough in 2009, according to Schroders' Andrew Yeado...

UK corporate earnings could fall by 40% peak to trough in 2009, according to Schroders' Andrew Yeadon. Yeadon, manager of the Multi-Manager Cautious Managed, Balanced Managed and High Alpha funds, points to previous periods of market turbulence in the mid 1970s, early 1980s and early 1990s, where there was an aggregate drop in earnings of 30-35%. He singles out the current recession as different from the last market meltdown of 2000-2002, which was a correction in terms of stretched valuations. "Now, we don't really have a valuation problem," he says. "With benefit of hindsight, com...