Many in the investment community are struggling to make sense of current macro-economic conditions. Will there be inflation or deflation; a double-dip recession or a surge in growth, stimulated both by quantitative easing and the resurgence of emerging markets?
In the face of such uncertainty, long-term investors return to fundamentals. History shows that, over time, earnings are rewarded. So the CRUF emphasised the importance of earnings to their analysis and the need for companies to go beyond the boilerplate in their communication of performance.