james carthewOn zeros

I managed to be on holiday the week beginning 14 July and so missed the rapid plunge and rebound in ...

I managed to be on holiday the week beginning 14 July and so missed the rapid plunge and rebound in markets. Discounts widened again during that week and are yet to narrow. It seems as though we are going into a period where buyers sit on their hands, frightened of even the most obvious bargains, while sellers resort to dumping the stocks they really would rather hold onto. I still find it impossible to call the short-run move in the markets (if I could do that I'd be retiring to my villa in the South of France) but, assuming we are not entering a 1930s style slump, there do seem to b...