Contrarian: Heroic policymakers versus the 'creative destruction brigade'

David Stevenson asks what the market turmoil of the past few weeks has really taught investors.

The last couple of weeks have provided us with some much needed excitement over the soggy end of the summer. A few weeks back, on Black Monday, I remember having to double check markets were actually plummeting quite as fast as my screens suggested. But lo and behold, the market was well and truly puking up most of its gains for 2015 in one frenzied sell-off.  I have long thought we have become too complacent, but even I would have taken off my hedging positions in early August, thinking we were past the worst of it. I see nothing, yet, which suggests this was anything other than a mid-t...