Your Cave or Mine? My Say no. 43 – Peter Thornhill
“I’m back!
No excuse just frustrated with the endless commentary and mindless herd reaction to events over the recent past. Does anyone else share my dismay at the daily diet of; ‘market rises after meeting of European ministers to resolve the Greek debt crisis’. This is followed the next day by ‘market falls sharply on doubts about the resolve of European ministers to solve the Greek debt problem’. The next day it goes up when Obama opens his mouth; it then falls the following day when the German finance minister opens his mouth and so on – ad nauseum!
There is no question that we are presently in the most volatile period I have ever experienced. All the years spent telling people why one should invest in shares for the long term is now being tested in real time so I’m puzzling over what comfort I can give. I can’t foretell the future and the potential outcomes are many.
There was a great article by Ross Gittins in The SMH on Wednesday 28th September (Pinned down by fear of the possibilities, not the outcomes). He talks about our ‘crazy, unceasing urge’ to ask people who can’t possibly know to speculate on possible outcomes. All this does is…”
Luke Rathborne, Director, Fortitude Private Wealth