For those of us who holidayed at home, it turned out pretty cold and miserable. The best results may have been had by those who travelled abroad this summer, despite the effects of the depreciating pound.
The markets also went haywire in early August with many brokers on their hols and the computers left to man the dealing desks. The problem with leaving computers in charge is they act rationally; in times of market falls they tend to sell share holdings to limit future losses which then tends to precipitate further falls. It is important to note, however, that these stop loss thresholds were set by the irrational before they went on holiday. Whilst the likes of Warren Buffett can influence returns (as seen with his recent $5bn investment in Bank of America), most small investors such as ourselves are usually much better advised to sit tight and ride out the storm.