The long-experienced team at Contrary Investor thinks the credit market needs watching, not the equity market. Outlook: oh, dear.
When things turn vengeful, let's take a careful look at the banks, and those who give them their orders. Not for the first time, they've lifted us up, and are making ready to drop us from a great height.
As the song from Mary Poppins has it:
If you invest your tuppence
Wisely in the bank
Safe and sound
Soon that tuppence,
Safely invested in the bank,
And you'll achieve that sense of conquest
As your affluence expands
In the hands of the directors
Who invest as propriety demands
You can purchase first and second trust deeds
Think of the foreclosures!Bonds! Chattels! Dividends! Shares!
Bankruptcies! Debtor sales!
... for the whole lyric see here.
The scene ends, happily enough, with a run on the bank as young Michael loudly demands the return of his twopence.