The American screenwriter William Goldman, in his autobiography Adventures in the Screen Trade, famously observed that “nobody knows anything”. What applies to Hollywood producers has a certain relevance to Fleet Street’s finest. The FTSE All-Share generated total returns of over 21% last year, and yet at least two tipsters saw their overall recommendations lose money. In the immortal words of Gordon Gekko, if these guys owned a funeral parlour, nobody would die.
To make money from the stockmarket in 2013, you had to do just one thing: avoid mining shares. The mining sub-index fell by 16%, while industrial metals and [...]
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