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Where to go when the markets are all over the place

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There is a saying that when a New York taxi driver asks you what share they should buy, you should sell all your stocks immediately on getting out of the taxi: a bubble is developing.

The adage is that when Wall Street meets the High Street, alarm bells should ring.

It is, unfortunately, not that easy to go out and “sell all your stocks”.Trying to time the market – even when it is overheating – is a fool’s game, and leaves the participants poorer in the long term. And that is the key phrase: long term.

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