Leigh Himsworth, head of UK equities at City Financial and manager of the City Financial UK Opportunities Fund, provides commentary for May
The title refers to a relatively new colleague that has made me realise I don’t have it too bad – he’s a Tranmere Rovers fan – I can almost see you nod gently and accept he has really had it tough.
There are some interesting issues to discuss this month that revolve around the battle between corporate investment and the market rating. Corporate investment, a key part in the recovery jigsaw that we seem to have been waiting an age for, is finally showing some signs of life. Recent years have relied on government expenditure, followed by improving consumer confidence. Up to this stage, businesses have been reluctant to invest up to this stage in the recovery, a phenomenon I believe results from their focusing, instead, on deleveraging their balance sheets.