Think the rally may continue but may also tank? You’ve got options
Investors shouldn’t make directional calls but compare pay-offs and risk
Investors shouldn’t make directional calls but compare pay-offs and risk

If a recent pick-up gathers momentum, there could be a scramble to reset portfolios

But more optimistic investors continue to bank on the cavalry arriving if things get really dicey

Plus, the global won

Buying and flipping shares in primary issues is proving fruitful but companies should prefer less-fickle investors

But it relies on a host of rosy assumptions going in investors’ favour

There is a distinction between good investment and bad speculation — the likelihood is we are experiencing both