FT

There is a black hole sitting at the heart of many sophisticated investors', wealth advisers' and financial planners' mental world view.

HSBC's group chief executive Mike Geoghegan's interview with the FT last week was the icing on the cake for me. He predicted another downturn at some point in the next 18 months - confirming the fears of all those who, like me, reckon we are midway through...

I don't know about you, but I find most investment industry events and conferences deadly dull.

The Conference season ends this week with the Conservative party rallying its supporters in Manchester, after Labour and the Liberal Democrats did the same over the previous two weeks.

Many moons ago, I mentioned in this column my leisurely lunch one fine summer's day with Mr Ed Moisson from Lipper, during which we discussed the costs involved with fund management.

The dash for trash and the remarkable uptick in cyclical equities - banks and resource stocks featuring prominently - has improved sentiment in nearly all risky assets.

I am not going to beat around the bush when it comes to investment trusts and closed-end funds listed on the main market, I love the overall concept and structure. And on most counts I would always pick a listed fund over a wrap platform unit trust.

At the moment I would suggest a great many virtuous fund managers have got their caution towards the euphoric stock markets about right. A couple of weeks back I could turn to almost any page in the news section of this fine paper and find a sensible...

I am an enormous fan of the Today programme on Radio Four, but its investment coverage sometimes amuses me.

Bubbles are a wondrous affair and, according to the aficionados, easy to spot from afar.