Muting the euro noise: How should we allocate assets?

It is beyond question that the euro will disintegrate within the next 12 months. Either that or it won’t. Of that much I can be certain. I have a similarly firm stance on China, where my calculations give me 100% certainty that it will endure a hard landing, unless it manages to avoid that fate. These are the natural conclusions to be leapt to following the flood of opinion and analysis that has swamped my inbox for the last year. Every day brings a new barrage, with one perfectly respectable economist forecasting a certain outcome, only to be contradicted two emails later by an equally ...