UK 18:48 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Malcolm Stacey reckons today that I should apologise as the FTSE 100 breaks 7,000. I make no such apology. Some shares have gone up but a headline index can mislead and the reasons for the rally are not sustainable for reasons I explain here. Malcolm is wrong about how current PEs are justifiable and wrong not to be advising folks to bank gains. I look back to 2003 and to 1999 and look forward to 2016 and explain why Comrade Stacey is rash and unwise. A 1916 Wisden is a far better bet.
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Comments
Malcolm Stacey
An erudite explanation, as you would expect from Tom. I will comment in more detail in my usual Monday piece. But I would like to say that cricket nutters paying that sort of money for an old mag are nothing to do with the real world of antiques which has dropped like a stone, and which has reached all-time lows – not like the Footsie’s historic all-time high this week. My own collection of Dickens first editions gives me lot of pleasure, but its worth a fraction of what I paid 10 years ago. Rocking on.