The FTSE 100 has seriously underperformed other major indices since Labor came to power.
Germany, France, Spain, Italy and the rest all underperformed.
Over the same period, shares with the highest forecast earnings growth underperformed the market by an average of 5% a year.
Financial Times ' Lombard column commented that Mellor had not been popular among investors and the shares had badly underperformed the sector for months.
Predictably, I think, he has underperformed for that reason.
