Newspaper article The Evening Standard (London, England)

Shares Could Be Dead for the Rest of Your Life, Says Gross

Newspaper article The Evening Standard (London, England)

Shares Could Be Dead for the Rest of Your Life, Says Gross

Article excerpt

Byline: Simon English

AS financial storm clouds were brewing last March, I offered some investment advice: sell everything.

Since then the FTSE 100 is down about 2000 points -- 35% -- so it is time for this update: sell everything.

Supposed stock-market gurus and others who speak in cliches like to say that when newspaper articles predicting the death of equities start appearing, it's time to buy.

But such types see buy signals everywhere -- and they've been calling the bottom of this market all the way down.

The losses from the banking crisis are so spectacular, and as yet so unrealised, that it's tempting to say there is no meaningful equity left anywhere.

Perhaps that's dramatic, but those trying to make a case for a recovery any time soon are focusing on small shooting trees and ignoring all of the dead wood.

President Obama says if his stimulus package doesn't work we are looking at a "lost decade".

But even if the stimulus does stabilise the economy, it doesn't follow that stocks will rally. …

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