Comment / Against the odds: There's no doubt about it - this year is pretty disappointing... so what comes next?

Against the odds comes in two forms: a column, on merit when warranted, and a monthly excel calculator (see below for our previous coverage). It challenges common sell-side wisdom in financial markets that the future often has better events in store than the past. The vast majority of consensus estimates from analysts, often modelled against a company’s guidance, are a case in point.

In a typical bearish fashion, we aim to highlight critical risks that could affect the value of major ...