In ‘times like these’ old stagers like me put on our ‘seen it all before’ hats, but there’s a reason for that. However unprecedented it may all seem, we really have seen the resulting stock market tumbles and plummets many a time. I was around but didn’t care about the 1970s oil crisis crash when the Dow fell by 45%. The first that affected me, as I was by then working in the industry, was 1987’s post-hurricane fall of around 25% in a day ‘sparking fears of a global recession’, see this week’s headlines for further details. And we, once again, trot out the line that you should not sell or cash in, as you never know when it will go up again. Missing the 10 best days in world stockmarkets in the last 30 years would have more than halved your returns and, in current circumstances, a nod and a wink from himself could make that happen very quickly.
“Trade war: Stock markets rally as Trump rows back on Fed and China threats”
Yet another reminder, should one be needed, of how quickly things can and will change. A nod and a wink in the right direction from himself and/ or an underling can provide the solace the money men crave and turn a plummet into, if not a soar at this stage, then certainly a bounce.
