|AXA Investment Managers' head of Framlington Equities Asia, Mark Tinker, told the Financial Standard Chief Economists Forum in Sydney and Melbourne that investors need to think beyond immediate geopolitical and macroeconomic risk, and take advantage of opportunities offered by the market in anti-consensus trades.
"I think it's very dangerous to stand up at the beginning of the year and say I think that X, Y and Z are going to happen, and I'm going to invest on the basis of that," Tinker said.
"All it means is that you have a portfolio of 50 to 60 stocks and you're actually only making three bets. It's like going to the casino and putting it all on red 16 - sometimes it works and you're a genius, and other times it doesn't. That isn't the way to be a long term investment strategy."
Taking aim at analysts, Tinker noted that many of the predictions made in 2016, including the collapse of China, the downturn of the RMB, oil, western equities, and commodity prices were wrong.
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