Hobson: Shares Less Risky than Gold

THE WEEK: Rodney Hobson regrets his bold prediction of last year that the FTSE 100 would not fall below the 6,000 mark - but he remains positive on UK stocks' outlook

Rodney Hobson 5 February, 2016 | 4:06PM
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Regular reader Chris Hardstaff chides me gently for suggesting many months ago that we would not see 6,000 points on the FTSE 100 index again. That prediction has come back to haunt me time and again but I do take consolation from the fact that the market is not, as it sometimes seems, falling but moving sideways.

Since the end of August, when the Footsie plunged back below 5,900 points, we have seen several lurches downwards but all have stopped short of hitting 5,800. Despite all the handwringing, the US, China and the UK are showing decent growth and the Eurozone makes weak but tangible progress.

It is true that a return to what was regarded as normal 10 years ago is fragile. The Fed must be already regretting being bounced into raising US interest rates in December and the Bank of England has moved further away from following suit, since all nine committee members voted for the status quo this week.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.