Neil Woodford of Woodford Investment Management, believes it is highly unlikely that next three to five years will be as profitable for markets as the past three to five years have been. He says the market faces a challenging future as economic and corporate fundamentals catch up with share prices and monetary stimulus prop that has bolstered markets in recent years is removed. But, while markets are trickier, he says, that doesn’t mean that there are not significant opportunities to be found. Rather, it means that the skill of the fund manager is going to come increasingly to the fore.
