http://www.moneyweek.com/news-and-charts/andrew-j-hall-the-british-eccentric-who-made-a-killing-on-wall-street.aspx

It was the same date on the same newspaper, Financial Times, when two well-respected columnists wrote two strikingly opposite views on equities market..... Tips? Tips? Hot Tips?

Nick Louth : Comeback time

......What this implies is that after three bear market years, I am getting increasingly enthusiastic about equities. This isn't some form of financial masochism, but the good luck of having a long investment horizon.

I don't expect to retire for at least 20 years, I am probably in my peak earning years and can therefore take advantage of low share prices to continue buying. If I were retiring next year, I might not be so lucky. If I were approaching 75 and had to purchase an annuity soon, I might feel desperate about in effect selling shares cheaply to buy exorbitantly expensive gilts. Conversely, if I were just starting work in my 20s, this could well be the investment opportunity of a lifetime........

John Walter : I'm sticking with the mattress

There are many pundits who claim that the UK market offers good value and this is a good time to get back into equities. I disagree with this view for two reasons: first, there is more bad news to come from the UK economy and second, a US invasion of Iraq would have a potentially destabilising effect on the Middle East and the global economy.
........
For the moment, I am keeping the bulk of my assets in the bank. Alternatively, Ken Dodd's investment philosophy of keeping it under the mattress also has its merits in the current market.

More from FT
Nick Louth : Comeback time
John Walter : I'm sticking with the mattress