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Investment Report

Markets climb the Wall of Worry

“Bull markets like to climb the Wall of Worry”, this well-known saying accurately describes the mood of the moment. Headlines abound in droves that are capable of spoiling the day for investors and consequently, are good reasons for every logicallythinking non-market operators’ sweeping sadness about financial markets. In spite of all this, equities have done rather well during the course of the year so far (which in its own right is again rather disconcerting to our sceptical peers). Quotes for bonds continue to rise briskly despite the thin air of the high altitudes. Only gold, silver and oil, usually sought-after assets in times of crises, were left out in the cold and are experiencing falling prices.