By Lucian Miers | Tuesday 19 November 2019
Disclosure: The author has a short position in one or more of the shares 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.
One of the most important disciplines in this game is knowing when to do nothing and until the UK election is out of the way I think it is wise to stay on the sidelines. My political predictive skills are far from perfect and while Johnson is fortunate to have Corbyn as an opponent and ought to gain an overall majority, which would almost certainly trigger a rally in sterling and the beaten up UK-based companies, I am happy to wait for the result before acting. The gulf between left and right both here and in the US is so huge that the idea that decent companies will prosper whatever the political outcome no longer holds good. As for the short side, as is usual at the tail end of a long bull market, the market is extremely tolerant of frauds and over-promotions which is extremely frustrating for bears...
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