Most analysts believe that the utilities …and essential services such as energy and food companies, etc., are the lifeline to cling to in the midst of the storm. 
It does indeed seem that they could be a good corporate safe haven in which to invest, bearing in mind that their prices already reflect a significant degree of panic. But perhaps we are mistaken in looking for «safe-haven assets». Perhaps we should, of course, in proportion to our Vital Balance designed for that purpose, looking to the future value of the new era that lies ahead. A value which, as at every turning point, takes on a form different from what we are used to. The million-dollar question is: where is the new «The Value Investor’s Handbook», and the answer is that, unfortunately, it has yet to be written, although various drafts – also known as blind man's buff.
The well-known cycles are part of history, and globalisation is one of the main causes of this chaos. Chaos that will lead us to a new economy where new business models – and consequently new investment opportunities – will emerge, along with new sectors, new blue-chip companies, new mid-caps, vast numbers of new small-caps, and even new and dubious penny shares that will fuel new, effervescent bull runs. And all this against the backdrop of a reimagined and unsettling form of capitalism.
We find ourselves at a crossroads, facing a dilemma: should we seek a safe haven in utilities and essential services, or should we focus on analysing a massive, globalised Seed Capital, Angel Investor or whatever we want to call it? I’d go for the latter, especially for investors who suffer from what we in our Family Office call Distressed Wealth. That they need a specific strategy for their impaired assets – a situation, moreover, shared by all new clients in recent months. This is what we already know as Distressed Wealth Strategy. All this without forgetting, of course, a careful selection of quality traditional, depending on how the markets develop in the near future.
At the risk of repeating ourselves, we must remind readers that we must always adhere strictly to the roadmap set out by the BV tailored specifically to each investor. A BV which, moreover, must be constantly reviewed in light of changes affecting the client themselves and also the global landscape, which is more volatile than ever. Gordon Gekko would have a different story to tell…
We will continue to monitor bank nationalisations very closely to see whether or not they dispel the pseudo-panic currently gripping their customers. Who would have thought that a globalised bank nationalisation involving millions of US mortgages could be the remedy to try and calm the spirits of global capitalism, under the astonished gaze of a consumerist China? If communism were to rear its head… Meanwhile, the forgotten Cold War is re-arming and Islamic terrorism lies dormant.
Under capitalism, man exploits man. Under communism, it is exactly the opposite.
John Kenneth Galbraith (1908–2006)