You could write a play about how the UK’s pensions tragedy has unfolded – all thanks to the interference of successive Chancellors of the Exchequer since 1987 – as we’ve now suffered an astonishing 589 changes in that area of the law.
Investors are being unduly influenced by all of the doomsday scenario creations of the media – China, Deutsche, Syria, Zika – Folks are behaving like drunks at a lamppost who’ve dropped their house keys and opted to search not where they’ve fallen, but where the light is shining the brightest.
A stock market Index however is a barometer that’s wholly unreliable. It tells you it’s raining when it’s sunny. And vice versa.
The one man I know who actually did accurately predict the 2008 financial crisis, Joe Kalish of Ned Davis Research (NDR) – and before you ask I didn’t listen to him either – believes this isn’t time to rush into caution.