Phew! The panic is over. Global markets are back and the flap that peaked in the second week of February is but a dim and distant memory. So what have we learnt from this huge and unprecedented volatility of the first few months of 2016?
I fear, not a lot.
Don't get me wrong, I have no issue with the fact that markets have rallied -- in some cases over 10 percent -- from their February 11th lows. In fact, the panic valuations in some areas such as European banking stocks, miners and the oil price itself looked ripe for a bounce and I doff my cap to the brave guys and gals in the market who dipped their toes when all about were shrieking about armageddon. I certainly didn't see the bottom when it came and fortune this time round has certainly favored the brave.