Advisers cool in face of sell off
By Will Grahame-Clarke, 6 Feb 18
IFAs react to the sell off that saw stock markets around the world drop sharply on Tuesday morning and tell International Adviser how they and their clients are reacting.
The current global market sell-off is likely to be a storm in a tea cup, said deVere’s Tom Elliot.
Elliott, international investment strategist at deVere Group, said: “We will probably see a recovery rally within the week and by next Monday analysts will be referring to this as having been a ‘much needed correction as part of an ongoing rally’.
“Financial history is full of false warnings of imminent bear markets – but right now we miss any key component, with no imminent recession in a major economy, no financial crisis, no one particular over-extended sector of the economy or stock market.”