Editor's Choice

Tuesday, 23 Oct 2018
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Bear Market Or Not

It is different walking into the office. As it was in February. “How many points was Wall Street down” says a colleague as he walks in this week. That morning the Dow Jones was down 127. The assumption that markets will fall instead of rise is a rare state of mind in the broking world, it only happens in a bear market. Of course, nobody knows if a bear market has started, but the mere fact that we are discussing it is in itself a sign. The 7.8% fall in the market is another.

Those that do declare a bear market are reckless to do so,  their hollow predictions no matter how confident and no matter how eloquently expressed, are little more than attention-grabbing guesswork, and somewhat irresponsible. But financial market commentators/brokers/media know that "calling

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