The mystery that is self-levitation

Obviously Blubber Reeves shows that the British cabinet is a symposium of right little rotters and that therefore it might be best to stay away from British equities. Save that these rotters cannot do much that will be tolerated by the British - as the rotters will in due course find out. So hold London-listed good value stocks (there are at least one hundred) very tight.

But America is something else. For some reason US investors are determined to keep chucking their cash at US equities. Surely this reckless behaviour will one day cost a great deal of money. So it is correct to stay short of Nasdaq. The crash will come - I just do not know when.