Warren Buffett, the wily 91-year-old multibillionaire and veteran of Wall Street, advises investors to be "fearful when others are greedy, and greedy when others are fearful".
Well, investors are in full fear mode at the moment. The markets have been slowly melting down. Rising interest rates, inflation, lingering supply-chain issues as China locks down to suppress Covid, and the ongoing nightmare in Ukraine have caused people and their asset managers to park their money somewhere safer.
The flight from risk has been particularly acute in the tech space, which had an incredible bull run stretching from the end of the global financial crisis of 2007-08 to the start of this year. In one three-day selling frenzy earlier this month, US$1 trillion was collectively wiped from Apple, Amazon, Alphabet, Nvidia, Meta, Microsoft and Tesla.
Denne historien er fra May 28 - June 3, 2022-utgaven av New Zealand Listener.
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Denne historien er fra May 28 - June 3, 2022-utgaven av New Zealand Listener.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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First-world problem
Harrowing tales of migrants attempting to enter the US highlight the political failure to fully tackle the problem.
Applying intelligence to AI
I call it the 'Terminator Effect', based on the premise that thinking machines took over the world.
Nazism rears its head
Smirky Höcke, with his penchant for waving with a suspiciously straight elbow and an open palm, won't get to be boss of either state.
Staying ahead of the game
Will the brave new world of bipartisanship that seems to be on offer with an Infrastructure Commission come to fruition?
Grasping the nettle
Broccoli is horrible. It smells, when being cooked, like cat pee.
Hangry? Eat breakfast
People who don't break their fast first thing in the morning report the least life satisfaction.
Chemical reaction
Nitrates in processed meats are well known to cause harm, but consumed from plant sources, their effect is quite different.
Me and my guitar
Australian guitarist Karin Schaupp sticks to the familiar for her Dunedin concerts.
Time is on my side
Age does not weary some of our much-loved musicians but what keeps them on the road?
The kids are not alright
Nuanced account details how China's blessed generation has been replaced by one consumed by fear and hopelessness.
