Quote of the day by John Kay: “Three simple rules – pay less, diversify more and be contrarian – will serve almost everyone well.”

The broader market has seen significant volatility recently, with both sharp rallies and crashes. Kay's principles encourage a cautious, long-term approach, which is prudent given the current unpredictable market movements.

• •Economist John Kay advocates three simple investing rules: pay less, diversify more, and be contrarian.
• •These principles emphasize valuation discipline, risk balance, and independent thinking.
• •The rules are presented as a resilient path to long-term wealth creation, especially in volatile markets.
• •Risk flag: Short-term market noise can distract from long-term principles.
• •Risk flag: Difficulty in identifying true 'contrarian' opportunities without deep research.