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“ What makes the difference between good fund managers and very good fund managers is the very good fund managers understand they sometimes have to make investments that are deeply uncomfortable ”
David Coombs Head of multi-asset investments at Rathbones
stock market can remain irrational longer than you can remain solvent .” Japan ’ s post-1980s crash is one example . By September 1990 , the Nikkei 225 was down more than 50 % from its January peak , and it could have been assumed this was the bottom . Yet while the index bounced above this point a couple of times in the next few years , Japan ’ s problems with deflation meant anyone who bought in at this depressed level would still have been down more than two decades later .
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