"Do we have a U-turn on the menu today?" asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I visited his office this week.
"No," I replied. "Over the coming weeks, there should be plenty of time to chat through the UK's apparent shift to a One Big Vote A Year regime so let's stick to resolving our recent cliff-hanger ending." "From two weeks ago," the chairman said pointedly. "Some cliffs are bigger than others," I shrugged. "Still, to refresh our memories, we were considering the possibility all investment products or asset classes must fail in some way - through a scandal, a crash or whatever - before the wider market is really prepared to commit cash to them. "I suggested a significant flaw in this arg...
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