Steer Clear of Shares, 'Superwoman' Warns

Volatility on the stock markets has worsened so much that buying shares will be inadvisable for the next three years, famed investor Nicola Horlick has claimed.

Speaking on BBC Radio Four's Today programme, the head of Bramdean Asset Management said that she was currently advising clients not to put their money into any equities - and to look elsewhere for investment opportunities. Absolute return funds and distressed equity funds were both cited as possible alternatives to shares.

The fund manager and mother-of-five - who shot to fame as "the City's superwoman" in the 1990s - made the comments as the FTSE 100 index suffered a further poor day of trading, falling 146 points. Markets across the world have experienced considerable volatility over recent months, due to the continuing effects of the credit crunch.

Ms Horlick also said that she remained gloomy over the long-term prospects for the economies which have been worst-affected by the crisis. "This all feels like the last days of the Roman Empire, what's going on in America and over here," she said.

"Greed has taken over and there's no rationality any more in people's decision making, it's just all about instant gratification, and no one's really thinking straight."