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ScotLife wizard lacks magic

Scottish Life has just awarded Credit Suisse First Boston the “Harry Potter failed wizard” prize for the most inaccurate crystal ball gazing of 2001 after its forecast that the FTSE 100 index would be at 7,400 at the end of 2001.

I would have thought that this once fine mutual would be keeping its head down following recent events.

Perhaps it should be awarded the “Stephen Byers economical with the truth” award following its decision not to declare an additional bonus to with-profit policy-holders following the Royal London takeover, having clearly indicated previously that they would do so.

I I Ormiston

Luton

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