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Article: Taking stock - how to be cautious.
- Article from:
- Money Management
- Article date:
- November 1, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Markets have had an amazing rally recently, but that just means that many investors are back where they started 10 years ago says former investment banker Russell Taylor
Between January and early March 2009, the MSCI world index of global shares fell by 24%. Since then, it has recovered that loss. Indeed this six-month rally in the S&P 500 is faster and stronger than those that followed the low points of 1932, 1974, and 1982.
Most fund managers are feeling confident, believing that there is at least another 20% more of price rises yet to come. Some even talk of the beginning of another bull market. Christopher Odey, a more than averagely successful fund ...