With so much volatility in the markets, the natural place to retreat to would be defensive stock, mainly consumer staples. However, says Rob Armstrong, with such stock being expensive compared with 2007, the options for investors are more limited.
► Subscribe to the Financial Times on YouTube:
For more video content from the Financial Times, visit http://www.FT.com/video
Twitter https://twitter.com/ftvideo
Facebook https://www.facebook.com/financialtimes
