
Royal Bank of Scotland tells investors “Sell everything” - koevet
http://m.theage.com.au/business/markets/rbs-tells-investors-sell-everything-20160111-gm3ssa.html
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tboughen
More here:

[http://www.theguardian.com/business/2016/jan/12/sell-
everyth...](http://www.theguardian.com/business/2016/jan/12/sell-everything-
ahead-of-stock-market-crash-say-rbs-economists)

The most telling part of the advice is:

“Sell everything except high quality bonds. This is about return of capital,
not return on capital. In a crowded hall, exit doors are small.”

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kspaans
Hahaha, in other words: "Please, customers, pay us commissions while you sell
high and buy low." If you're diversified, with a long time horizon, even a
"crash" just looks like "woohoo, cheap FTSE100 index funds!"

~~~
joefarish
If their customers were able to sell high and buy low, I'd imagine they
wouldn't be too sad about paying those commissions.

~~~
kspaans
Whoops, got those backwards: namely selling into a crash and then buying back
in after the market has recovered. Thanks!

