Investors advised to sit tight by equity experts
Saturday 29 August 1998
Investors taking a view on their investments of less than a year are advised to consider moving out of equities into alternative investments such as cash or bonds.
However, investment gurus are adamant that long-term investors should resist selling because of fears about the markets, in spite of admitting to a fear that this week's Russian crisis could trigger a full-blown global slump.
Paul Kafka, executive director at Fidelity, one of the biggest investment managers, said: "The best thing to do is to sit tight." George Hodgson, European strategist at ABN Amro, said: "People are panicking a bit too blindly and it is getting a bit overdone."
Robert Matthews, director of investment management at Royal & SunAlliance, said that, short term, he was "concerned that we are all very vulnerable to bad news coming out. But I think we will bounce back out of this in the near future".
Gartmore, the NatWest-owned investment manager which famously lost clients because of its withdrawal from shares to cash last year, said the crisis could be favourable because of the prospect of lower interest rates.
"We have always said we felt markets were overvalued and therefore there was a high level of risk there. We were right to point to that fact."
But others were more bearish. Bruce Kasman, head of European research at JP Morgan, said: "The bottom to the global slowdown is nowhere in sight."
Geoffrey Macnab reviews American Hustle, also starring Christian Bale and Bradley Cooper
newsFormer soldier taped 33 of the animals to the floor and then stamped on them one by one
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
news Opponents claim it would stop performers such as Beyonce and Madonna appearing on TV
It takes a platoon of chefs, litres of brandy and rum, and almost 100kg of dried fruit
food + drink
sportIf you thought the London Olympics and Wiggins' Tour glory made last year best, don't forget Murray's Wimbledon win and Farah's double
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £650 per day: Harrington Starr: Harrington Starr is working with a Glob...
£27000 per annum: Harrington Starr: Junior Consultant (Excel, Financial Spread...
£500 - £600 per day: Harrington Starr: .NET Quantitative Developer - Contract ...
£55000 per annum: Harrington Starr: Technical Operations Analyst (UNIX, Linux,...