Dire Stockmarket warning from Moneyweek

Ian_W

hedger wrote: »

seems this article was very accurate.......

Not entirely.

And if that happens, UK share prices will take a hammering. A similar fall to that predicted for the S&P 500 would take the FTSE 100 to around the 4,500 mark by autumn.

Still time though, as the Autumn is quite young. :eek:

ManAtHome

Dunno where it's likely to go from here - I've moved from shares into cash mainly due to the "we still get megabucks for destroying shareholder value" attitude. Lost a few (?) quid thinking maybe they'd learned lessons from the last crash, but now we have the "never mind, taxpayer will bail you out" ethos, think I'll stick with the steady 5-6% cash-like stuff for a good few years.

TRUSt_NO_1_2

hedger wrote: »

.......

This might seem extreme. But don’t forget that, despite all the bad news we’ve seen since the start of the credit crunch, London shares are down by less than 15% from a year ago. My guess is that we now could be looking at a fall in the FTSE 100 of at least another 15% over the summer. So, keep watching the iTraxx like a hawk. I’ll leave the final word to Mr Janjuah: "Cash is the key safe haven. This is about not losing your money, and not losing your job."

http://forums.moneysavingexpert.com/showthread.html?t=1035623

Cash ?...their is talk in USA about banks preparing to shut their doors...I guess some websites might be 'crashing' as well.

When it costs £2 for a loaf of bread,I suppose the FTSE will start recovering in nominal terms.

Reaper

Anyone know where you can find an up to date chart of the iTraxx Crossover index? Can't find it in the usual places.

hedger

ManAtHome wrote: »

Dunno where it's likely to go from here - I've moved from shares into cash mainly due to the "we still get megabucks for destroying shareholder value" attitude. Lost a few (?) quid thinking maybe they'd learned lessons from the last crash, but now we have the "never mind, taxpayer will bail you out" ethos, think I'll stick with the steady 5-6% cash-like stuff for a good few years.

good call mate