We live in politically turbulent times. Ignoring shifts in the geopolitical landscape, the emergence of China and India as economic powers and the political upheaval in the Middle East, here at home we have rarely witnessed such change in so short a time. The Lib Dems have been all but wiped out as a Parliamentary force, the Labour Party is almost non-existent as the opposition and a right-wing single-issue party, regularly grabs an unprecedented share of the popular vote.
As if that weren't enough, the country has now voted to exit the EU, an institution which has regulated so much of our lives for over 40 years. It's hardly surprising that, amidst all this turmoil, asset prices have been volatile.
The FTSE 100 has bounced around in an extraordinary manner. Initially spooked by the possibility of Brexit, which saw the futures market plummet, it then rebounded strongly as investors appreciated the power of foreign earnings from its constituent companies. Property prices have risen strongly or crashed depending on where you are and the relevant price bracket. So why is all this instability good news?
It's always difficult to time the market and while price falls generally presage a buying opportunity, such a strategy often requires a foresight and courage uncharacteristic of many. There is, however, a tax angle to this, which presents significant opportunities.