'The markets can remain irrational longer than you can remain solvent' - that famous line from Keynes is probably the most true thing ever said about the stock market. Even with the trade wars, brexit, record defaults in China etc. the stock market was on a tear from January to April.
Many funds have a mandate to be either fully invested or something like 90% invested. I'd stay far away from any such fund. All that encourages is for the fund to be like a lemming, following the crowd to the edge of the cliff. Perhaps if funds didn't have such a mandate, we wouldn't see such irrationality from the markets.
So, the US has given China a deadline of one month to resolve the sticking points. Only goods that left Chinese ports after last Friday will see tariff increases. I feel that the Chinese don't want a deal. If they can wait it out till after the 2020 elections, they ought to be able to secure a better deal.
Hopefully share prices fall, which means being able to scoop up good companies at better prices.
