TALKING STOCK
RICARDO SMITH: Turbulent times are not always bad for long-term investors
One of the shares in our global equity portfolio, JPMorgan, has reported strong positive earnings
Over the past few years, there has been a series of what many have dubbed black swan events. These are events that are difficult to predict and come with negative consequences. Before a black swan event occurs, it is not only difficult to predict but also an unknowable event. Strictly speaking some of these may not be black swan, but there certainly is a lot of resemblance.
A few of these events on the global stage have included the Donald Trump presidential victory in the US and the Brexit vote in the UK in 2016, where most surveys and polls indicated that these were unlikely to impossible. These were on the back of the rise of populism and nationalist ideals over globalisation. Invariably this led to trade wars between the two largest global economies, the US and China. ..
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