Tom
Scollon
Chief Editor		 Well what a week. The challenge for the Newsletter Editorial this week was where to start as there was just so much to write about – we started the week with media reports from the Dubai G7 meeting which really only highlighted some on-going, festering world currency issues. The weaker US dollar cast some doubt on whether US growth and the forecast world growth was maybe a false dawn and in turn the equity markets got the jitters. This new found confusion for world markets was further stirred by OPEC’s surprise decision to cut oil production.

What subject to write on? Each one requires detailed treatment and I propose to do this at the forthcoming Safety in the Market Annual Traders Conference in November where I will review currencies, global resources (futures), equity and bond markets.

The last six months since the so called end to the Iraq War, has been an unprecedented period of relative world economic calm and it is predictable that after such a spell we are going to head into some turbulence. I believe the current hurly-burly will be short lived in the equity markets but that is not to say there will not be more stormy weather further ahead.

I am generally bullish about world growth over the next few years but we are going to go through plenty of volatility and never will it be more critical to have your money invested in the right markets and sectors. There is scope to achieve outstanding returns but your capital can also be eaten away in turbulent times. Stay tuned!

Tom Scollon
Editor