Somerset Capital, which included former business secretary Jacob Rees-Mogg among its founders, is closing down. Odey Asset Management, founded by the flamboyant Crispin Odey, was forced out of business earlier this year.
“A market rally would have happened if there was some excitement going forward. I do not think that is happening. Our belief is that it will be more of a flat line. The market probably can be divided into two parts. One will be prior to elections, and one will be post-elections because the state elections will basically be an eye-opener.”
“Globally, data show that the worries related to hard lending and earnings which are coming, are turning out to be better than most people s expectations. We are going into 2024, which to my mind is going to be a relatively more boring, slow recovery kind of year for the global economy.”