The state of the market is no over-reaction but the odds are with investors – Telegraph: “If you’ve dropped by my column before, you won’t be too surprised to hear that I think long-term investors will not regret getting into the market at today’s levels.
Having fallen 48pc since the June 2007 peak and 42pc over the past 10 years, the FTSE 100 index is on the wrong end of one of the worst bear markets ever. Having tumbled 45pc since last May and 10pc between Thursday of last week and this Tuesday, it has been one of the most rapid declines too. I believe the odds are stacked in favour of anyone prepared to see out the storm.
But what if the market, far from over-reacting to the credit crunch turned global slump, is actually responding rationally to a dramatically changed world? Anyone bracing themselves for a new investment today or gritting their teeth and hanging in there”