Gibbs compares current crisis to the early 1990s

Jupiter's financial manager Philip Gibbs believes the world is in a massive economic crisis and it i...

Jupiter's financial manager Philip Gibbs believes the world is in a massive economic crisis and it is set to get worse. Speaking to Investment Week, the manager of the £732m Financial Opportunities fund said the crisis is much worse than the TMT bubble. "1999 was all about absolutely absurd ratings on a number of stocks that went down to nothing," he said. "This is nothing like that - it is everywhere. And the trouble is the majority of people are affected so it is much more like the early nineties." Other managers are not defensive enough, he added. "For the last few weeks the medi...