Taking the long view

It's hard work at the moment trying to put a positive spin on the equity market. This was particularly brought home to me recently as I was talking things over with a client and his IFA. It was in the middle of July, shares were in the midst of an especially savage sell-off and the mood was very downbeat. As is often the case, as soon as the major indices head downwards investment managers start talking about 'the long term', and there I was doing just that, blathering on about the superior returns over time that equities provide and frankly feeling a bit of a charlatan. Quite rightly, the ...