No post-Christmas cheer for trustees

Five days into the new year, sentiment among pension trustees has fallen to a new low

You heard the one about the pension scheme trustee who went to the pub to drown his sorrows just before Christmas?

As is the way of things, he bumped into his old friend Paddy and poured out his soul, as Paddy poured the drinks. Three hours on, Paddy patted the weeping trustee on his back: "Never mind," he said. "Things could be worse."

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire