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At a time when the dividend yield on Wall Street is lower thanit was before the crash in 1929, professional investors have found comfort in huddling together like sheep

About 3 pages (1,034 words)

The Independent - London, September 21st, 1996

There can be few doubts about who has been the talk of the town this week in the investment management business. The man making the headlines has been Tony Dye, the man responsible for investment policy at PDFM, the UK fund management arm of the Swiss bank UBS. He, as I mentioned just a few weeks ago, is the fund manager who since the start of last year has been not just consistently but exceptionally and openly bearish about Wall Street.

As the New York market has continued to power up, defying all the doomsayers, his contrarian position has inevitably attracted increasing attention. His hea...

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