MoneyWeek issue 390 cover

How long will the bear last?

27 June 2008 / Issue 390

The downturn may be more prolonged than forecast... PLUS:

• How to profit from grain prices - buy chicken

• Which directors’ deals are really worth following?

• The Brazilian billionaire and his lucky charms

Excerpt

When the truth hurts

I have been told very firmly by one of our readers that I must “lighten up”. MoneyWeek, he says, is too keen to see the gloomy side of things and too quick to assume the worst will happen. If we could just be a bit more upbeat, he thinks we might sell a few more copies.

He might be right – but not, I suspect, for long. Why? Because if, in this environment we came over all bullish we’d be peddling the same over-optimistic nonsense as everyone else and that would make us – like them – probably wrong. Who can be upbeat about the economy or markets when amateur buy-to-let investors across the country are losing 40%-plus on their money; when inflation is spiralling; when there is a rainy summer of strikes ahead of us; when our public finances are a mess; when our summer holidays are going to cost us 15% more than last year, due to the weak pound; and when our leader’s only response to all this misery is to blame ‘global difficulties’? Not me.

Read the full editor’s letter here: When the truth hurts