The More Things Change, The More They Stay the Same
The Sage of Omaha, one Warren Buffett has a useful analogy to describe the antics of sharemarkets. Mr Market, says Buffett, suffers severely from bi-polar disease. One day Mr Market will show up radiating ebullient confidence. He will avidly buy shares at whatever price, because there's endless blue sky ahead. But the next he might show up thinking Armageddon has definitely come.
With Britain's vote to exit the European Union, Mr Market entered the gloom of depression. Stock markets tanked. Down, down, down.
