Taking Stock 

When liquidity goes, fundamentals endure

Mark Robinson

When liquidity goes, fundamentals endure

Conventional wisdom has it that companies can hide a multitude of sins until the tide goes out – the point at which we find who has been swimming naked, to paraphrase Warren Buffett. But perhaps we’re getting ahead of ourselves. The S&P 500 has contracted by 6.4 per cent since its high-water mark at the beginning of October, but it’s slightly above where it was at the beginning of the year, so our modesty has been preserved, at least for the time being.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now