The experts at UBS forecast an economic crash for the UK and an exodus from the City if we voted to Leave the EU, threatening to move 1,000 jobs out of the country as a result of Brexit. It turned out there was no crash and the bank u-turned on its Brexodus scaremongering. They were wrong then, and they’re wrong now…

Before the World Cup, UBS deployed a team of 18 analysts and editors and ran a computer simulation of the tournament 10,000 times. They determined Germany would win. Yesterday the Germans crashed out in the group stage, finishing bottom after a humiliating 2-0 defeat to South Korea. In 2014 UBS said Brazil would win – they lost 7-1 in the semi-final. What was it Michael Gove said about “experts from organisations with acronyms”…