'An act of terror not an act of war'

Hendrik du Toit, chief executive officer at Investec Asset Management has commented that this week's devastating events were 'an act of terror not an act of war'. Toit stressed that there is a fundamental difference between the two and urged investors to be discerning in this regard. Toit said: "Although markets will obviously react to factor in the increased risks of recession, we believe a disorderly fall of more than 10% is unjustified. A cautious approach is advised, as the risk of whiplash by venturing into or out of the markets during periods such as these, is immense." To...