The market has taken a bit of a tumble. What happened?

Well, I should have guessed there was trouble when I saw the piece about a 2p coin being worth more than tuppence because of its copper content. It’s like those stories about garden sheds in Kensington being sold for a million quid.

Front page stories in the newspapers always presage a fall, and so it was again. I can’t say you didn’t warn us…

Exactly. From the start I said that markets are funny creatures that can catch even professionals unaware. As it is, in the last couple of months those professionals have lost a bundle.