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Isis warns slump may be worse than 1929 crash

Isis is warning that if US equities do not rise by at least 7 per cent a year until 2009, global markets will have performed worse than in the 1929 crash.

Chief investment officer Robert Talbut says companies are repairing balance sheets after poor profitability and interest rate cuts have not had the desired effect.

Isis says equity valuations are a clear buying opportunity but modest returns over the medium term mean people should take a more diversified approach to asset allocation.

Talbut says: “The equity market experience of this decade is shaping up to be the worst ever. The falls have been so extreme that US equities need to rise by just short of 7 per cent a year and German equities 13 per cent to end 2009 to ensure we do not do worse than the experience of the previous worst decade of performance in the 1930s.”

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Three questions for employers…

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