Spring is in the air

Spring is in the air and, since early March, the equity market has rallied hard and at the time of w...

Spring is in the air and, since early March, the equity market has rallied hard and at the time of writing the S&P 500 index stands over 20% higher than its recent low. There has been a sea change in the appetite for risk with animal spirits replacing the fear that pervaded before. While I struggle to believe the deep structural problems facing the global economy are anywhere close to being resolved and fundamental newsflow remains dire, those of a more optimistic bent should consider the tiny funds of investment trust sector. These funds have in the past generated supernormal returns w...