Good morning!

It feels like news has been speeding up again in recent weeks, with so many interesting company-specific stories to accompany the sharp correction in equity markets.

Sentiment among the trend-chasing US retail investor community has been a casualty of events, with the celebrated FANG group of tech giants down between 14% and 24% so far this month and in aggregate down by over 20% since July. But the NASDAQ still has a long way to fall.

Closer to home, the AIM All-Share Index is down by 12% this month. Like the NASDAQ, it became top-heavy in highly-rated, popular shares such as ASOS (LON:ASC), Burford Capital (LON:BUR) and Fevertree Drinks (LON:FEVR). When sentiment turns, it's inevitably the highly-rated shares which bear the brunt of the correction.

We've also had accounting scandals at Patisserie Holdings (LON:CAKE) (still suspended) and Yu (LON:YU.), as if investor sentiment wasn't low enough. All in all, it has been a torrid time for investors.

The FTSE Index looks good value to me at c. 7000, though there are a lot of low-return businesses in this index (banks and resources, basically) which are unlikely to make for the most rewarding long-term investments.

If the US enters a bear market then FTSE sentiment is likely to remain weak in the medium-term, but personally I think the smart thing to do is accumulate shares during this period of market weakness (assuming that your time horizon is long enough).



If you're still a buyer of equities (and I know I am!), then consider coming along to Mello London in Chiswick on November 26th and 27th. The discount code "MLStocko25" gets you £25 off whichever ticket you choose (single day or both days). Paul and I and many other full-time investors and analysts will be there, along with a big selection of companies.




Right, time to talk about some individual shares.

Paul added an important section on Victoria (LON:VCP) to his report late last night. So I'd recommend checking that out, too. Here's the link.

Shares I am interested in today include Tesla,…

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