What can we learn from the market crash? And what can we buy now?

Most major global stockmarkets fell by about 10% yesterday. But some solid defensive investment trusts have preserved investors' capital nicely, says John Stepek. Here's why, and what might be worth buying now.

The world's stockmarkets have taken a pounding © Getty

Yesterday was brutal. Today, things have calmed down a bit. Is it a “dead cat bounce”? Quite possibly. But unless you’re a day trader, you shouldn’t really care.

Yesterday was the kind of day when people sell things indiscriminately. A day when the good got chucked out with the bad. So I think it’s time to take a little wander through the wreckage, looking for items of interest.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.