It has been a relatively quiet week in markets, even though there have been some very sad and continuing fatalities, plus nasty economic numbers.
This week I am bringing you something different.
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On the Friday before Black Monday in 1987 we were only stopped from selling the great bulk of our advisory client holdings because an unofficial Bank Holiday was declared – some of you will recall The Great Storm in southern England the night before, which brought down power lines and telecoms. The US stock market fell 22% in one day in the following week.
I hate to start with a non-investment matter but it is impossible to avoid the coronavirus issue.
A month ago we would have been looking forward to a bit of a fall in markets – it’s healthy, and creates opportunities to buy a bit more cheaply. It was early days for the coronavirus, and we said “history suggests using market weakness as a short term buying opportunity.” It assumed the virus would be largely contained in China, only sporadic outbreaks elsewhere, and an eventual V-shaped economic recovery once most Chinese companies returned to full capacity. Those assumptions have proven to be wrong.
Being diagnosed with dementia can be a lonely and worrying time, not to mention a huge shock for family members too. It’s an increasingly widespread illness, with the Alzheimer’s Society projecting that the number of people living in the UK with dementia will rise from its current level of 850,000 people, to 1.6 million by 2040.
Let’s face it, it’s one of the last things we think about when we’re in our 20s. Maybe it’s the job that I do that has made me realise the importance of saving. Or maybe it’s the fact that at the
beginning of last year I decided I’d like to buy a house soon, but hadn’t been making any real effort to save towards moving out (hence my ISA article for first time buyers in the last newsletter).
In the wake of the UK election, and the removal of some uncertainty from the domestic landscape, the UK does now look more attractive for investment.
With the election next week, it is good time to look at how markets might react to different outcomes, and the impact on your personal finances – “Corbyn-proofing” has been the media darling of recent weeks.
Did you know that in Nigeria, email scammers are admired by many, who believe they provide a role model for young people, given the scammers’ skill in removing money from the bank accounts of wealthy westerners?
Saving for your first house can be daunting. It can be even more daunting when you see that there are multiple ways in which you can save.
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