If you saw my previous post I looked at the views expressed by Merryn Sommerset Web saying that we are not facing a Japan-like situation in Europe.
Here is a big of a counter-argument from one of Britain's best value investors. He reckons that we are facing a deep recession and that bank deleveraging will lead to a Japan like situation. It makes for depressing reading.
U.K.’s No. 1 Fund Manager Says Europe, Britain Facing Recession - Businessweek:
As for Japan, he thinks that:
It is a frightening thought. Mr Woodford has positioned himself very conservatively with investments (according to Bloomberg) in AstraZeneca Plc, GlaxoSmithKline, Reynolds American Inc. and BAT
Here is a big of a counter-argument from one of Britain's best value investors. He reckons that we are facing a deep recession and that bank deleveraging will lead to a Japan like situation. It makes for depressing reading.
U.K.’s No. 1 Fund Manager Says Europe, Britain Facing Recession - Businessweek:
"“The outlook for the European economy has deteriorated quite significantly,” said Woodford, manager of the Invesco Perpetual High Income Fund, which has 11.1 billion pounds ($17.7 billion) in assets. “I do expect the euro zone to be in recession next year and the U.K. economy could well be following suit.”
As for Japan, he thinks that:
“Bank deleveraging means a credit contraction, the sort of thing we saw in Japan.”
It is a frightening thought. Mr Woodford has positioned himself very conservatively with investments (according to Bloomberg) in AstraZeneca Plc, GlaxoSmithKline, Reynolds American Inc. and BAT
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