Hungry hippos
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During a time when managers and economists flutter between all kinds of shapes, animals and even kitchen utensils to describe the shape of economic activity, it is nice to see one remain consistent.
“Our big-jawed friends can be unpredictable and snap at any time”
This time last year Edward Bonham Carter, the chief investment officer (CIO) at Jupiter, described the shape of equity markets in the years to come as akin to a hippo. The giant mammal, points out Bonham Carter, spends its time mostly lounging about. Or, to put this in equity terms, stockmarket growth looks set to be lethargic for several years.
However, our big-jawed friends can be unpredictable and snap at any time with savage force. Again, to put in economic terms, Bonham-Carter is saying there could be bouts of volatility to come.
It is refreshing to see someone maintaining a consistent view despite all the ups and downs.
