Stock tips from an old timer
It’s grim out there. In the US the subprime debacle is gathering speed, banks are desperate for capital and starting to slash workforces; consumers are belt-tightening fast and house prices are still in freefall.
Here the FTSE 100 fell 3% on Tuesday alone and is now 10% off the highs of last year; our currency is wobbling; the most recent inflation numbers were frightening (factory-gate prices rose at 5% in December and, according to Mysupermarket.com, the price of a basket of food bought here is up 12% in the last year); and, of course, our property market is in just as dismal a state as those in the US, Ireland and Spain.
Read the full editor’s letter here: Stock tips from an old timer