Billionaire broker on rates, recession and the Governor...

Monday, 30 October 2017, 8:01 pm

Followers of my work might have noticed a piece in this weekend's The Sunday Times quoting Peter Hargreaves, the billionaire founder of Hargreaves Lansdown, with his views on where stock markets might go next given they are flirting with record highs. Below is the link in case you missed it:

https://www.thetimes.co.uk/edition/business/only-way-for-shares-is-up-claims-peter-hargreaves-h6k0q63jt

Anyway, Hargreaves - a prominent Brexiteer and donor to the campaign for Britain to leave the European Union - also had some other interesting views, particularly with regards to the Bank of England and its Governor.

Whilst most economists reckon the Bank will raise interest rates this week, Hargreaves isn't sure the venerable institution will.

"It does feel a bit like there is recession going on around in the UK - outside of London pubs, restaurants and shops aren't doing well," explained Hargreaves, who set up the FTSE 100 company from a bedroom in Bristol.

As for the Governor, well this what blunt Lancastrian said: "Mark Carney is absolutely useless - he is just a PR man. The sooner he goes back to Canada the better."

Ouch...

..

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