Good morning, Donald Trump has threatened China with an extra 50 per cent tariff amid wild swings on Wall Street. Veteran stock picker Kerr Neilson has warned there will be no quick return to normality as long as the US and China are at odds over trade, while other fund managers are recommending clients take advantage of the upheaval to buy good stocks at bargain prices. Meanwhile, troubled casino operator Star Entertainment Group has accepted a $300m buyout offer from US-based Bally’s Corp, saving it from the brink of financial collapse. Pubs billionaire Bruce Mathieson, the embattled casino operator's biggest single shareholder, will potentially kick in an additional $100m. And it’s well-worn but it is worth repeating Warren Buffett’s market advice to be greedy when others are fearful and to be fearful when others are greedy, says wealth editor Julie-anne Sprague as she looks at how Australia's wealthy tackle market meltdowns. |