The Lemon Fool

The annual report from Bruce Stout is as riveting and insightful as ever. A short extract:

"Should future generations ever search for the seminal moment in economic history where so many supposedly intelligent people masquerading as Central Bankers and their financial market cheerleaders descended to the depths of discredited stupidity then 13 July 2016 will be as good as any. For on this day Germany issued a ten year Bund with no coupon. An income investment with no income..."

Read the whole report and get scared. Very scared.

http://www.aberdeen-asset.co/static_fil ... 1492249579

"Nowhere to hide" summarises his gloomy prognosis.

Thanks for highlighting the Murray International Annual Report. Bruce Stout is always gloomy but you know what? The world keeps turning and our dividends keep coming in (subject that is to Trump and North Korea's leader). As always it is useful to have Mr Stout's views but his trust has done well, although we all know that a lot of that is to do with Sterling's weakness. Still, enjoy it while we can.

Dod