11th May 2013
1) Warren Buffett said earlier this week that low interest rates made bonds terrible investments reported in thisismoney.co.uk while shares are “reasonably priced”. He also said that savers were having a brutal damage from central bank money printing reported in the Telegraph though he supports the strategy.
2) Shares in Manchester United fell 4.5 per cent on news of Sir Alex Ferguson’s retirement before recovering as the BBC reported last week though in the the Telegraph Garry White suggests the shares in sports clubs are really only for the fans though Man U shares have done pretty well since listing up by around a third.
3) Moody’s downgrades Co-operative Bank to junk status.
4) The UK stock market burst through the 6,600 barrier as Mindful Money reported on Friday.
5) A story that may seem to have very little impact now but have long term implications for investors. The BBC reports that the Government is to ban ‘consultancy charging’ where an adviser on a workplace pension scheme could levy charges for their advice from your company pension. Campaigners including Which? said it would dramatically reduce the final pension. Some in the industry argue that many more people will be the state-backed Nest pension where a deliberately conservative strategy could reduce returns.