Nutt and Woodford clash on UK recession forecast

Nutt, manager of the £2bn Income Trust, said although he does not expect the UK to fall back into recession, investors should prepare for a period of "dull, modest returns". He has urged investors to stick with their defensive positions as he does not believe the UK will see any sharp moves upwards in economic or share price growth. "We are in the midst of the most severe economic crisis which has probably been brought about by globalisation. Investors have pursued all sorts of techniques which has led to this untoward level of leverage. But we need to think about the opportunities ra...