What a fascinating/crazy week for equity markets. In my recent weekly 80-20 Investor newsletter I gave a sense of perspective to what had been happening. Since then investment markets have become even more volatile.
By Monday stock markets globally were in full blown panic mode. The FTSE 100 for example lost 4.67% in a single day! That was one of the worst days since the financial crisis. Forget stock market corrections (a fall of 10% from recent highs) investment commentators were talking potential bear markets occurring (falls of 20% or more).
The press and Bloomberg TV wheeled in loads of people to explain what was going on and where markets are headed next. These experts broadly fell into two camps:
- those telling you that the world was ending
- or the majority who were saying this was a great buying opportunity
Oddly, these same people had been wheeled out the week before when the markets were falling.
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