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Any other business

RBS’s note from a crashing plane: wild headline grabbing or wise advice?

Plus: It must be decades since I bought underwear at Marks & Spencer — but for a car picnic they can’t be beaten

16 January 2016

9:00 AM

16 January 2016

9:00 AM

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’.

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