Did you know that the Chinese characters for the phrase “tariff-induced crisis” are the same as those for “obvious buying opportunity for equities”? I learned that on Reddit.
And what could better sum up the gift of a meltdown we had last month? Based on nothing more than some White House policy waffle — mostly ditched or delayed since — my favourite stock markets were suddenly 15 per cent cheaper.
Thanks Donald! I calculated straight away that UK and Japanese shares were oversold relative to the direst predictions for the effect of tariffs on long-run cash flows. It was probably the same for my Asia fund, but I was less sure given Trump’s beef with China.
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