We have probably moved ahead of ourselves. The market is not expensive but it has moved quite forcibly upwards.

That's quite a statement. I just think when you make general statements when you don't know, you're probably not doing yourself any favors.

That would lead to a rise in bond yields and in turn start to make equities look unattractive. If that happens on Wall Street, it's going to happen here in the UK, it's going to happen in Europe, and everywhere else.

This is a set of background features that will hopefully continue to contribute throughout 2006.

Some of them are not well known around here yet, like Jed & Kelley, who moved here from Tennessee,

He could be ahead of schedule, but we're not bringing him back ahead of schedule.