CNBC:
“This correction was long overdue and it is healthy, as it allows assets to pass from weak into stronger hands and to be more fairly priced” said [Pedro Noronha, a fund manager at Noster Capital in London].
The problem for Noronha is that attempts to stop the market reacting to events via intervention mean the market cannot find its footing.
“It is important that the market learns how to find its own footing again without the constant band aids and quick fix medicines that quickly alleviate the pain but do nothing to solve the issues at hand” said Noronha.
