From Alan Steel, chairman of Alan Steel Asset Management:
When I started in 1969, because of political turmoil here and Vietnam over there, the FT all-share index fell 38%. It fell again, more than 20%, in 1971 when Rolls-Royce went bust. It collapsed more than 70% from 1973 because of the oil crisis when the oil price rose two-thirds overnight. Wait for it. From $3 a barrel to $5...
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