05 March 2016

Capitalists unite - you can only lose your shirts

I'm not scratching my head; I'm simply grateful.  The Guardian reports:
Was that it? The year began with warnings to sell up and hunker down for another financial crisis. But now investors have been left scratching their heads after the FTSE 100 enjoyed its third week of gains to soar back to where it started 2016.
The index rallied 1% on Friday to close at 6,199.43, just shy of the 6,242.32 level at which it opened the year and above the 6,093 where it closed on the first trading day of the year.
It marks a 12% turnaround from a three-year low hit in February as the London blue-chip index slumped along with stock markets around the world. Investors had dumped shares amid a commodities rout and on worries about the global economic outlook and China’s economy in particular. As the sell-off deepened, economists at the Royal Bank of Scotland warned clients: “Sell everything except high quality bonds.”
Put not your trust in city scribblers  - they know not their arse from their elbow ...


No comments: