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The cliche ‘buying on the sound of cannons’ appears to have held up once again
Ships in the Strait of Hormuz this month. For all the worries about the war, stock markets remain on the up. Photograph: Atta Kenare/AFP via Getty Images “Stock markets plunge amid fears of prolonged war in Iran”; “Stocks plunge, oil prices up 20% since start of Iran war”.
“taco” , and the US president, conscious of November’s midterm elections, would surely bring the war to a quick conclusion. Six months later, the conflict is unresolved. Oil prices are again above $100. Inflation has been felt around the world, with food and energy prices spiking.
Shane Lowry: ‘It’s not just a transactional thing for me anymore where you get a logo, do a day and get paid’Makhlouf stays on the fence on future rate hikes And the S&P 500? It’s up 13 per cent, and stocks around the world have enjoyed a similarly sunny time. Back in March, this column quoted BCA Research’s Marko Papic, who noted that “buying on the sound of cannons” had historically been a winning strategy.
Creative Planning strategist Charlie Bilello makes the same point. Wars end, says Bilello, while economies and corporate earnings, even when temporarily impaired, have tended to grow over the longer term. They certainly have in 2026. S&P 500 earnings grew a “historic” 52 per cent in the latest quarter, notes Bilello, doubly exceeding expectations.
Net profit margins hit a record 17 per cent, while full-year earnings growth forecasts have more than doubled to 34 per cent. For all the talk of geopolitical risk, investors have had a very decent six months, with the market behaving much as history would suggest. Knee surgery patient wakes up to €3,000 bill after change made during procedureCan I request a price reduction if a property’s floor area was incorrectly advertised?
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