A MERE BLIP ON THE HORIZON

As one astute market watcher commented to me last week: "You know there's nothing really wrong in the stock markets when it makes the main BBC news at 10pm." On that basis alone we are at our most positive on the outlook for the markets since last September and it's not as irrational as it might at first seem. Think back less than three years to the collapse of hedge fund LTCM or the Russian debt crisis and the BBC News kept talking about "meltdown" in the world's stock markets. Meltdown whatever that really is never came and these two incidents proved to be mere blips on...