Victory at last

The seismic movements in the financial markets last year confounded even the experts, as correlation took down every asset class and unwitting trader going. Victor Sperandeo, better known as Trader Vic, talks exclusively on the back of his latest index launch about the moment the bell rang and explains why bonds are the world's worst investment

Last year provided more than enough surprises for the investment community. The collapse of two banks not quite enough, markets taught traders a painful lesson that when all asset classes head down, their correlation heads to one.

So, did Trader Vic, investment veteran, author of three trading strategy books and now chief executive officer of Alpha Financial Technologies in Houston, see what was coming? "I did not see it coming in July 2008, but what I did see was an extremely high risk," says