33 The analysts

Geof Collyer (Deutsche Bank), Douglas Jack (Panmure Gordon), Mark Brumby

(Blue Oar Securities, (32)

Why they are on the list:

The analysts provide most of the research and data which catalyses the movement of shares within the brewing and pub industry. Their industry comments are influential in deciding whether shares are bought or sold and in what quantity.

What the past year has held:

Collyer, a former operator of pubs, provides immensely detailed research on the sector and is not afraid to question corporate strategy. He called time on Mitchells & Butlers' (M&B) property joint-venture (JV) strategy in January. Jack is a hugely self-confident analyst who often sticks his neck on the line by voicing a forthright view. His opposition to M&B's JV plan last summer was pretty immediate. Brumby is probably the best-read analyst in the City thanks to his daily note that lands in hundreds of sector inboxes. Other analysts wonder how he manages to publish so much and so often without intrusive editing from Blue Oar's compliance unit.

Challenges ahead:

Predicting the timing of a revival in sector stocks will require the skills of Mystic Meg. Equally, judging the severity of the damage on the sector from a worsening of the economic downturn will also be difficult.