And it is not diverse enough to do well in all types of market environments, he said.

When the market environment gets caught up in things, generally speaking we're not there.

Investors need a framework for understanding the new market environment.

"In a normal market environment, none of this news would be considered particularly positive."

"People have become used to the fact that this is a difficult market environment."

"They reflect the positive market environment we have been operating in."

The market environment of the organisation is an important variable.

"Things are all based on a changing market environment," she said.

But to do that you have to create a market environment.

But it's clearly the current market environment that is driving the actions we took today.