Cover of MoneyWeek magazine issue no 694

Hold your nerve - The best of the bull market is yet to come

6 June 2014 / Issue 694

We're just at the start of the next big boom, say Akhil Patel and Phil Anderson.Read this week's cover story here

This rival to Royal Mail is worth a punt
Driverless cars: the future of transport?
The return of Britain's dotcom poster boy

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John Stepek

Towards FTSE 12,000?

In 2008, right after Lehman Brothers went bust, Phil Anderson wrote a cover story for MoneyWeek.

Looking back at that issue (number 405, if you want to look it up), our news section was reporting that the world’s central banks had slashed interest rates by 0.5%, in a co-ordinated move to stem the panic, while the personal finance page was all about the demise of Icelandic internet bank Icesave. A bit of a scary time for investors, all told.

But Phil took the long view. He acknowledged that we were in a grim situation, and that property prices would fall for a few years yet. But he also reckoned the upturn would arrive in 2011, and that US stocks could start rising again as early as 2009, but certainly by 2010.

I’ll admit, I was sceptical. Glued to the office Bloomberg terminal, which was spurting out news of the latest profit warning or bankrupt bank, it was easy to worry that we might not have an economy left by 2011, let alone one witnessing the ‘green shoots’ of recovery. But Phil was right.

• Read the full editor’s letter here: Towards FTSE 12,000?