Should anyone take investment advice from Royal Bank of Scotland, the institution which so misread markets before the crash that it required the biggest taxpayer bailout in banking history? Possibly not, but a bulletin from RBS’s research team this week certainly caused a stir by declaring that ‘in a crowded hall, exit doors are small, risks are high’, ‘sell mostly everything… except high-quality bonds’; and finally, ‘for the world: the game is up’.