GUERNSEY was the venue for leading financial commentator Michael Hughes’ last seminar presentation before his retirement. Mr Hughes, who has worked in the City for 35 years, shared his views about his time in the industry and provided a set of forecasts for the year ahead.
The chief investment officer for Baring Asset Management is well known in the Channel Islands financial community, firstly as a partner of stockbroker de Zoete and Bevan, then chief economist and head of investment strategy at BZW.
He took up in his present role in 2000.
Mr Hughes is perhaps best known for some of his forecasts. In 1993 he controversially predicted the FTSE index, then at 3,500, would reach 7,000 by the end of the decade. It ended at 6,930.
Four years ago he recommended investing in commodities and three years ago he forecast that sterling would exceed US$2.20 within five years.
He has appeared regularly on radio and television with spots on BBC Radio 4’s Today programme and Money Box, BBC2’s Working Lunch and Radio 5 Live’s Drivetime.
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