I joined the insurance industry in February 1987; the following October the FTSE100 crashed. As a newcomer to the world of investment I never saw the crash coming, and interestingly my elder colleagues never saw it coming either. And yet the FTSE100 had spent the previous 9 months on an almost vertical upwards trajectory; in hindsight the crash was inevitable. The advice we passed on to investors back then was…
“don’t panic, the markets will recover”…
and recover they did, eventually. Where did we get this advice? We received it from Abbey Life’s all-knowing fund managers. Back then we weren’t paid to think, we were paid to sell. Continue reading “A Financial Education over 25 years”