Good morning, it’s Paul here with the placeholder for Weds. Sorry there is no extensive preamble today, I’m too tired to write anything (the night before), and need a lie-in to catch up with recent lack of sleep. So please bear with me, and I’ll have a few sections up by 1pm. US markets sold off late, last night, so we can expect a poor open today. I’m feeling decidedly nervous at the moment. The news re Covid-19 seems negative – there’s talk of a new virus strain which is appearing in children apparently, which sounds ominous. Also, I feel that the bubble in tech amp; healthcare shares seems inappropriate in its extent, with valuations looking very stretched. Most UK shares I look at seem very expensive, given the appalling economic situation, and lack of visibility on earnings. This feels like the calm before the storm to me. I wouldn’t be at all surprised to see markets lurch down again, and have re-opened my index shorts, to hedge my long portfolio. Trade Credit Insurance Yet another massive bazooka looks to have been wheeled out (do bazookas have wheels? I thought they were shoulder-borne?) this morning…
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