- Wealth PMS (50L+)
At MarketVision, I write about the Minus 4.5% week and What Not To do.
(Needs registration, free. Excerpts follow)
The markets have crashed 4.5% this week, with banks battered beyond imagination, down 7.6%. All world markets have done badly: Since August 1, the KOSPI and DAX have fallen 20%, while most others – the UK FTSE, the US Dow, Japan’s Nikkei and the Indian Nifty have fallen 10% or more. The crash has happened in an event vacuum – the fear is not of something bad happening, it’s of something good not happening.
1. Don’t buy just anything because it’s cheap. It’s a bad time for all stocks. The market may rebound in one day, or take years to go back up. You can’t predict it, and neither can those suits on TV.
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