By Malcolm Stacey | Saturday 17 June 2017
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hello Share Cringers. As a BBC current affairs producer for nearly all my working life, I thought its 24-hour news service was doomed to failure. How wrong, in the light of recent events, I was.
Its blanket coverage of the flat fire, the two terrorist murders and the amazing general election encouraged full-time viewing. It made me rather worried about my ITV (ITV) shares, as I’m sure most folk still go to the BBC for the really big news. TW Note - why? It is horribly biased and the sooner the commies stop getting state subsidy the better.
That truly awful fire distracted everyone from the truly pivotal negotiations about Brexit and a Tory deal with the Irish unionists. Among all this tragedy and economic uncertainty, it’s a miracle that the Footsie has held up so well.
Like me, your portfolios will probably be motoring along. The way one of my chief holdings, IQE (IQE), has rocketed recently is breath-taking. My small medical pioneers are thrusting ahead, too.
And my Footsie giants, apart from the oil monsters, are also bounding along. It’s all because of the poorly pound, of course, making their balance sheets at home look very healthy. But when it's currency volatility and not real performance that’s working the magic, we should all have qualms of nervousness.
The Footsie is also rising, as it always does, with the Dow on a roll. But the US economy is doing far better than ours is. There is also the worry that the UK will lose a lot of its very lucrative financial services as the big hitters relocate to Brussels or Germany during and after the Brexit negotiations.
What I’m trying to say, gang, is that the Footsie and nearly every other company will not keep on piling up share value. An end is coming, and we should be poised above the sell button to try and pick the moment just before, or more likely, shortly after, the bottom falls out.
It’s time to re-consider my hitherto optimistic outlook in the Punter’s Return. God bless.
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