Many things have changed since I began as a fund manager in 1995. My bosses flew Concorde and we could smoke at our desks after 6pm as we pondered what to buy with our car allowance.
But so much more has stayed the same. When it comes to investing, US companies still trump all comers. Europe muddles along, as ever. And of course a new century dominated by emerging nations is due any second now.
When I say “just around the next corner” my children immediately assume the pub is miles away. So how anyone has managed to keep a straight face selling emerging market equities is one of the mysteries of finance.
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