Personal view: In troubled times, cash is king

With slow growth and inflation, the prospects for the UK economy are poor. The key to successful investing now, says one professional investor, is to focus on firms with a strong cash flow.

Each week, a professional investor tells MoneyWeek where he'd put his money now. This week: Martin Cholwill, manager of the Royal London Equity Income Trust.

The immediate prospects for the British economy look distinctly unappealing, due to the threats of significantly slower growth, or even a recession, and the potential re-emergence of cost-push inflation. The Bank of England's latest report suggests inflation will accelerate and stay above its targeted range for several quarters. So what's driving these threats?

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.