Investors beware – the 1970s nightmare is back

It’s too late to worry about a return to the 1970s, writes Barry Norris, founder of Argonaut Capital – we’re already there. The more important question for investors now is: what can you do about it?

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Picture the scene: inflation (measured by the retail prices index – RPI) is running at 11%; there’s an oil embargo and an energy security crisis, but the government has just discouraged new investment in indigenous, reliable energy through a populist windfall tax; and while the Bank of England has begun to raise interest rates, “real” (after-inflation) rates are still negative to a degree never seen before, locking in huge post-inflation losses for cash deposit savers.

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Barry Norris

Barry Norris is the founder, CEO and CIO of Argonaut Capital Partners, and manages the Argonaut Absolute Return Fund and the Argonaut European Alpha Fund