The worst start to a year that anyone can remember

The brutal sell-off in equity markets around the world has continued well into its third week, making this easily the worst start to a year that anyone, including any number of dusty-haired statisticians, can remember. Personally I have to admit to rather liking these hairy periods in markets, as they invariably create buying opportunities for those who are willing to look and have no pressing reason to sell. This is particularly true if you favour investment trusts, as I do, since you can often find discounts widening to attractive levels in times of turbulence.

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