It seems the next great financial crisis has been and gone while I was making my way back from foreign parts.
Headlines rang out at the start of the week saying markets had seen their worst day since the collapse of Lehman Brothers, which was the generally recognised start of the protracted 2008 crisis.
‘Black Monday’ was a one hit wonder though.
As events have progressed over the week it has looked less like a new financial crisis and more like the buying opportunity of the decade.
Any investors who were away from media sources this week as I was and did not check the valuations within their portfolios until they returned would have had no idea the market slide had happened, unless they read the old coverage from days earlier (as I did, given my job).
As you can see below, US, UK and mainland European stocks indices have repaired virtually all the damage that occurred on Monday, and are only between 2% and 4% down over the month.
