Thursday, August 16, 2007

Counting unhatched chickens?

Pension schemes finances improve - BBC News online, 9 July 2007.
The PPF (Pension Protection Fund) is launching a monthly solvency index and the 7,783 schemes it measures now have a collective surplus of £99bn. A year ago, the PPF said, the funds it scrutinised had a deficit of £8bn. The finances of the schemes have improved because of rising share prices, and higher bond yields which have reduced the value of liabilities.

Heavy losses sweep world markets - BBC News online, 16th August 2007.
More than £100bn has now been wiped off the value of the UK's leading shares alone since last Wednesday.

Hedge fund managers may be ex-rocket scientists with brains the size of planets but it's an explosive combination when mixed with no common sense!

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