Despite the market ructions from Brexit, with the Chinese economy slowing, the US federal Reserve flipping and flopping on its monetary policy outlook, the ‘sell everything’ suggestion from RBS analyst Andrew Roberts is looking very ill.
Markets are strong.
The bet I offered Roberts ( https://thekouk.com/blog/sell-everything-my-challenge-to-andrew-roberts-of-rbs.html ) has a scorecard:
The Kouk 10
Roberts 1
As has been the case for the bulk of the year, the only market where Roberts is ahead is Nikkei which is down 8.2 per cent.
Including that fall, the average rise in the 11 items that Roberts suggested should be sold, the gain so far is a stonking 15.6 per cent.
Level at time Latest Difference %
of bet
US stocks S&P500 1925 2103 9.3
Brazil stocks Ibovespa 39500 52568 33.1
China stocks Shenzhen 1850 2002 8.2
Japan stocks Nikkei 17200 15776 -8.3
US house prices Case-Shiller 182.83 186.63 2.1
UK 20 city house prices Hometrack 228800 237500 3.8
Sydney house prices Corelogic 915.00 999.13 9.2
Iron ore US$ tonne 40.50 56.22 38.8
Oil WTI US$ tonne 31.50 48.99 55.5
Copper US$ tonne 4325 4879 12.8
AUD/USD 0.7000 0.7530 7.6
Simple average 15.6
Enough said.