Will we have a ‘Brown Bear’ market correction in 2018 (-45% like 1973/2001/2008) or a ‘Black Bear’ (better, apparently, -25% like 1957, great year, 1962 or 1978). Or just a correction. Or a Tommy Steele? (A Little White Bull market, kids ask your parents, and, yes, I just made that one up). Answer: who knows. Certainly not the fund managers.
“Record year for annuity sales driven by advisers”
I was asked this week whether annuities are now ‘a good investment’. They’ve been recommended very rarely in recent years, since ‘pension freedoms’ allowed pretty much unlimited drawdown on pension funds and anything left to be passed on to beneficiaries free of Inheritance Tax.