EFTA Document EFTA01458595

Letter to investors Investing in binary times Nervousness pervades the markets. China's restructuring and the central banks' policy dilemmas are unprecedented. But the reality is better than it appears to be. Investors should think twice about taking an autumn break. After the rather busy months of August and September. the traditionally turbulent October is unlikely to allow investors to catch their breath. Why are markets so unsettled? Let me try to explain. This bull market has last