This week has been interesting to say the least. Fortunes have been made and fortunes have been lost as stock market participants continue to pit their wits against each other. In normal times, consensus agreement is relatively easy to reach, and volatility isn’t huge.
However, when nobody has a clue what is going on, then volatility is off the charts. It reminds me of the Joker’s quote in The Dark Knight: ‘a truckload of soldiers will be blown up, nobody panics, because it’s all “part of the plan”. But when I say one little old mayor will die, well then everyone loses their minds’.
This crash certainly wasn’t in anyone’s plans. Very few people were prepared, and it has wreaked destruction across pensions, ISAs, and leveraged spread bet accounts.
But life goes on, and the stock markets remain open for business. I’ve seen many wheel out the old ‘blood on the streets’ quote with a smiling picture of Warren Buffett. Whilst Warren Buffett wasn’t buying the AIM garbage that often accompanies said quote, it is a sentiment I agree with. Opportunity is around us. For those of us who are going to go the distance, it is indeed time to go to…
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