Paul Moore, Chief Investment Officer at PM CAPITAL discusses his views on the recent price volatility. In this video (VIEW LINK) Paul details that we are in an environment of two steps forward, one step back. “People are now assuming that China is in fact going to be worse than they expected, but the reality of life is the collapse of oil price is very positive for consumers in developed markets”. Paul further states there is a disconnect between current business fundamentals and price action. “If we believe businesses can return a satisfactory return over the next 3-5 years, we are happy to own those businesses and look through any short term gyrations… It is the psychology you have to deal with as we all know the lower the prices go, the more people become convinced that they are going to go lower and the reality of life is the lower the prices are, the better the expected outlook for investment returns are over the medium to long term, and that is what our philosophy is all about”.