Global Markets Fragile: Richard Harris Warns Against Fresh Investments

• Richard Harris, Executive Director at Port Shelter Investment Management, warns investors to be cautious with fresh investments due to fragile global markets.
• He argues that the current market rally is driven more by behavior and narratives than by fundamental strength.
• Harris highlights growing downside risk after a strong equity run-up, noting that markets don't sustain such rapid growth indefinitely.
• He compares the current market behavior to the dot-com boom, cautioning that powerful technology themes don't guarantee linear returns.
• For a fragile environment, Harris suggests a 'barbell strategy' with a chunk of cash for security while retaining equity holdings to reduce risk.