By: Max King 23/07/2019 The outlook for equities remains encouraging. An investment trust with an international remit will help you profit. With Wall Street hitting new highs and even the FTSE 100 index back above 7,500, many investors will wish they had bought stocks six months ago. But what should you do now? Jump in and risk an autumn sell-off or stay on the sidelines expecting a slide? The market gives no clear answer other than the old Irish quip – “if I were you, I wouldn’t start from here”. Ed Yardeni, a strategist and economist, points out that the US economic expansion, now ten years old, is the longest on record.No boom, so no bust This leads many to assume that a recession is due. But Yardeni points out that the long expansion has also been one of the weakest on record, with GDP up just 25% in a decade. “There has been no boom and so no bust. Typically, booms set the stage for busts by generating speculative excesses financed by too much debt, resulting in either price or asset inflation. The Federal Reserve responds by raising interest rates, triggering a financial crisis, a credit crunch and a… Read full this story
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