Last week I visited a successful Midlands brokerage. The boss was looking where to invest tens of millions of pounds for a client.
Stocks, bonds, real estate, commodities?
He'd found somewhere that offered 3.6%. Security of capital, and protection against our current moderate inflation.
How many individuals and corporations around the world are doing much the same? Are they waiting for the optimistic losers to slug it out, before stepping in and buying up when everything gets cheaper?
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