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‘Black Monday’ was a useful event in one way. It served as a timely reminder of the volatility an equities-based portfolio can suffer, and a valuable lesson in the importance of holding your nerve as an investor.
With stocks bouncing back over the following days, people like me who were not in the ‘Black Monday’ loop at all will have been left no worse off. It is those who saw the headlines and engaged in panic selling that will have been hit in the wallet this week.
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There were 352 votes in favour, with 250 against and 21 abstentions
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