Tuesday, Dec 05, 2006
2007 is the start of the big turnaround
The Telegraph: No one is worried about anything... and that's worrying
I hardly need say that their confidence has little to do with attractive fundamentals, a promising economic outlook or cheap valuations. Nothing so logical, I'm afraid. Investors are bullish because they've been making money for nearly four years and they think, as they always do at this stage in the investment cycle, that the good times will keep on rolling. I find the casual disregard of the clouds on the horizon puzzling and I'm not alone. If ever a word keeps cropping up in my conversations about the markets and in the research that washes over my desk each week, it is complacency. No one is worried about anything, and that's worrying.
Posted by sold 2 rent 1 @ 09:01 AM (188 views) Add Comment
1 Comment
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1. little professor said...
It's amazing how short peoples memories are. I'm only 26 but I still remember the early 90s negative equity and repossessions galore. Yet people 10 years older than me still proclaim that house prices can only ever go up, that investing in the stock market is easy money, that the government would step in and prevent any kind of crash, whether it be in the property, stock markets or currency.
It's naivety on a colossal scale.