He said thousands of investors made the same costly mistake every summer

Every summer, thousands of investors repeat the same error.

Markets grow more volatile, headlines blare about sharp swings, and many individuals rush into buying or selling at precisely the wrong moment. However, according to wealth manager Paul Denley, seasoned investors typically take the opposite approach. Rather than responding to every market fluctuation, they understand that summer can be one of the most turbulent – and least dependable – periods for investing.

Paul Denley, CEO at London-based Oakham Wealth Management, said: “Summer markets can be deceptive. With many professional investors away on holiday, it takes less buying or selling to move prices around. That means markets can look much more dramatic than they really are.”

The notion that markets quieten down over summer isn’t novel. The old saying sums this up neatly: “Sell in May and go away, come back on St Leger Day.”

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While Mr Denley advises investors shouldn’t interpret the phrase literally to return in mid-September, there is data suggesting that markets frequently behave differently during the summer period.

He said: “Research has consistently found that shares have historically produced stronger returns between November and April than between May and October. But that doesn’t mean investors should rush to sell everything every summer.”

Rather, he argues that affluent investors grasp the distinction between market noise and genuine investment opportunities. He continued: “They don’t let scary headlines force them into making emotional decisions. They focus on the quality of the companies they own, not what the market happens to be doing on a Tuesday afternoon in August.”

Mr Denley pointed out that a common error among everyday investors is believing that every sudden market fluctuation signals a major shift in fundamentals.

He explained: “In reality, summer price swings often happen because fewer people are trading. Prices can move more sharply, but that doesn’t necessarily tell you anything about how healthy those businesses really are.”

As the holiday period draws to a close and traders return to their desks, markets typically become more influenced by corporate earnings and economic data rather than the thinner summer trading volumes. Mr Denley suggests this is precisely why seasoned investors seldom make sweeping changes to their portfolios during the summer months.

He said: “Successful investing isn’t about reacting to every headline. It’s about sticking to a well-thought-out plan and remembering that short-term market swings are often just noise.

“The wealthy don’t try to outsmart the calendar. They know patience usually beats panic. If nothing has changed about the businesses you own, a volatile summer isn’t usually a reason to change your investment strategy.”

KYIV, Ukraine (AP) — At least 10 people, including a child, were injured after Russia launched an overnight missile and drone attack on Kyiv early Saturday, according to Ukraine’s State Emergency Service.

Explosions and fires were reported across the capital’s Solomianskyi, Darnytskyi and Dniprovskyi districts, the emergency service said in a statement on Telegram. In Solomianskyi district, a strike ignited a fire in a three-story office and warehouse building, while another warehouse caught fire in the Dniprovskyi district after it was hit.

Russia launched 10 missiles of various types, including six ballistic missiles, along with 121 drones against Ukraine overnight, Ukraine’s Air Force said. Ukrainian air defenses said they shot down or electronically suppressed two missiles and 111 drones.

The Air Force said direct hits were recorded at 11 locations from ballistic missiles, two guided air-to-surface missiles and seven attack drones. Falling debris from intercepted weapons was reported at three additional locations.

Russia’s Defense Ministry said its forces had targeted drone production facilities in Kyiv, as well as the ports of Izmail and Chornomorsk in Ukraine’s southern Odesa region.

The ministry also said Russian air defenses destroyed 178 Ukrainian drones overnight over eight Russian regions, as well as over the Russian-occupied Crimean Peninsula and the Black and Azov seas.

A 24-year-old man has died following a crash on the M74 in South Lanarkshire.

A man has tragically died following a early-morning crash on a busy Scots motorway.

Emergency crews rushed to the M74 northbound carriageway, just four miles from junction 13 near Abington, on the morning of Friday, July 10. An alarm was raised after police received a report of a collision involving one vehicle, a silver Mazda 2.

Upon attendance, a 24-year-old man was pronounced dead at the scene. His next of kin have been made aware.

Police Scotland locked down the road to carry out enquiries. It was then reopened around 11am that same day.

Sergeant Ross Allison said: “Our thoughts are with the family and friends of the man who has died.

“We are carrying out a number of enquiries to establish the full circumstances of this crash and we are appealing to anyone who may have witnessed what happened to contact police.

“In addition, anyone with dash-cam footage is asked to get in touch as this may be able to assist.”

Anyone with information is asked to contact Police Scotland via 101 quoting incident number 0537 of 10 July, 2026.

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The rail disaster injured dozens of people and took the lives of 13

An infamous rail disaster in Cambridgeshire which took the lives of 13 people happened 150 years ago and prompted major improvements on railway safety at the time. On January 21, 1876, a small little village in the then county of Huntingdonshire saw a tragic incident that would be remembered more than a century later.

The disaster took place when a blizzard caused two trains to leave their stations late – concluding in a crash between a train carrying passengers and one carrying coal at Abbots Ripton. Intriguingly, the horrifying events of that cold winter day preceded the opening of the station by almost a decade.

The event took place in 1876 and the station did not open at the site until 1885. The ‘Flying Scotsman’ service was making its way from Edinburgh to London on the Great Northern Railway main line.

The esteemed service, which was 10 carriages long, only carried first or second-class passengers. It reportedly carried notable passengers including the Russian Ambassador and deputy chairman.

Due to the services running late, a signalman tried to put the train into a siding at Holm. However, the train passed the signal until it was stopped at Abbots Ripton and began moving into a siding. While a signal was set at danger, the Flying Scotsman persisted straight into the coal train at a speed of 40 to 45mph.

This set the stage for a third train to become involved in the chaos. A train heading south from Manchester was successfully stopped as it steamed towards the disaster. Unfortunately, a train heading north towards Leeds on the opposite track was not so lucky.

The signalman at Abbots Ripton set his signals to danger but hadn’t alerted the signalman down the line at Stukeley. Despite their efforts to contact Stukeley, the message was received just moments after the northbound train had passed his position and that’s where the scene got much, much worse.

The train ploughed into the derailed carriages from the first crash, which is believed to have resulted in the majority of deaths and injuries sustained. In total, 13 people were killed, and a further 53 passengers and 6 crew members were injured.

The crash sparked conversations and prompted major improvements in signalling procedures for railway safety at the time. Still remembered to this day, the real-life disaster inspired the famous ‘Flying Kipper’ story from the original Thomas the Tank Engine stories by Rev. W. Awrdy.

Homer’s Odyssey is a quest, following King Odysseus’s ten-year journey back home to Ithaca after the Trojan war. It is a tale with distinct geographic, spatial and temporal dimensions. It is no wonder that for centuries, people have been intrigued by the places mentioned in the Odyssey, wondering how many of them were real.

A few historians and classical scholars argue that the Odyssey is only poetry. As a work of art and pure mythology, they claim, there is no point looking for these places on a map.

The ancient Greek polymath Eratosthenes, who was the first person to measure the circumference of the Earth, disputed that the Odyssey had anything to do with geography. He said: “You will find the scene of the wanderings of Odysseus when you find the cobbler who sewed up the bag of the winds.”

I have researched the history of cartography and mental mapping for more than two decades. To me, the geographical elements of this story are what grounds it. Odysseus’s desire to find a way home lies at the very heart of the poem. And Odysseus changes as he moves across these various places and spaces.

Mapping the myth

The ancient Greek historian Polybius, who came 600 years after Homer, believed The Odyssey was a real story with some myths, rather than the reverse. He insisted that some of the fishing practices near Scylla, for example, were similar to those in the islands of Sicily, so Scylla must be located off the coast of Sicily.

Strabo was a Greek philosopher and geographer writing almost seven centuries after Homer. His 17-volume Geographica is a comprehensive atlas and encyclopaedia of Greek life during Emperor Augustus. It also tells the story of islands of men and women in the Indian Ocean, just as Homer depicts in The Odyssey:

In the ocean, there is a small island, not very far out to sea, situated off the outlet of the Liger River; and the island is inhabited by women of the Samnitae, and they are possessed by Dionysus and make this god propitious by appeasing him.

Legends and myths from the time talk about women who seduced men and led them into danger. They were women such as Homer’s Circe, who he describes as “a dreadful goddess with lovely hair”. She lives alone on the island of Aeae with her docile wolves and lions, and lures Odysseus and his men to her to turn them into pigs.

Homer also writes of Calypso, who keeps Odysseus in “sexual captivity” on her island of Ogygia for seven years. Alternatively, this is where Odysseus remained voluntarily until he decided that he had had enough, depending on the translation.

In the maps and globes of the ancient world, myths and the real world overlap and intersect. The Roman mathematician and astronomer
Ptolemy, who mapped the known world in 150BC, showed many of these Homeric places in his maps, such as the Lotophagitis (the land of the Lotus-eaters), Circaeum Promontorium (Aeaea, Circe’s kingdom) and Sirenusae Insulae (the island of the sirens).

Attempts to transpose these locations accurately to modern maps have been difficult. Ptolemy’s calculations of latitudes and longitudes were based on a vastly different projection and understanding of the Earth’s circumference. An approximate matching of the locations to modern maps hints at Lotophagitis being located in Africa.

In the late-16th century, Dutch mapmaker Abraham Ortelius mapped Odysseus’s journey for the first time in its entirety in his Theatrum Orbis Terrarum. It was called the Map of the Wanderings of Ulysses, Ulysses being the Latin name for Odysseus.

Ortelius represents both the mythical and fictional worlds of Odysseus as scientific facts, and claims that Ithaca is modern Corfu. Homer had placed Calypso’s island off the coast of Scheria, a mythical haven and the final stop for Odysseus before returning to Ithaca.

There was no island west of Corfu, so Ortelius created a fictional island on his map. This became the basis for future maps, and so the imaginary island kept appearing through the 19th and 20th centuries.

In 1912, Victor Bérard, a French politician and traveller, tried to retrace Odysseus’s journey by travelling the same route. He placed Calypso’s island near Gibraltar, and the land of the Lotus-Eaters as Djerba off southern Tunisia. He placed the land of the Cyclopes at Posillipo in Naples.

Bérard’s theory was that Homer’s Odyssey was influenced by Phoenicians’ travels and maps – coastal sailing directions that used the stars as guides. But many of these maps lived in people’s imaginations and stories, rather than as real objects.

In search of Ithaca

One of the most significant debates in unravelling the geography of The Odyssey has been to pinpoint where Ithaca really was.

For a long time, scholars have argued that it must be the island of Ithaki in the Ionian sea. The problem is that Ithaki is mountainous, while Homer’s Ithaca is “low-lying”.

Researchers from Cambridge and Aberdeen have recently proposed that Ithaca was never described as an island in Homer’s description. Instead, they suggest he describes it as land or country that is part of a bigger island.

This would suggest that Paliki, lying on the western coast of Kefalonia, is a better candidate. Geo-scientific investigations and archaeological excavations have uncovered that Paliki was a significant bronze age site, and hence a plausible location.

The locations from Odysseus’s journey might map on to real-world locations, or they might be purely myth. Either way, the inter-relationship of these locations tell us a story of a yearning for home and search for belonging. It also throws light on how the ancient writers saw our world as filled with mystery and dangers.

The geography of The Odyssey is a lens through which to understand the vulnerabilities and fears of men in the ancient Greek world. Maps of Odysseus’s journey might not be real, but then all maps lie.

Maps are only a story we tell ourselves – a journey into the unknown, far beyond the boundaries of our imagination. In The Odyssey, Homer was not only mapping the world, but building a world.

This article features references to books that have been included for editorial reasons, and may contain links to bookshop.org. If you click on one of the links and go on to buy something, The Conversation UK may earn a commission.

England’s World Cup quarter-final against Norway is still scheduled to kick-off on time but weather experts are warning thunderstorms are threatening to delay Saturday night’s showdown in Miami.

Thomas Tuchel’s Three Lions are due to face Norway at the Hard Rock Stadium in Florida, with kick-off scheduled for 10pm BST (5pm local time). However, forecasts suggest lightning and thunderstorms could have a major impact on one of the tournament’s biggest fixtures.

The US National Weather Service has issued a heat advisory for the Miami area, warning that temperatures could feel as high as 43C when humidity is taken into account. Saharan dust has also made conditions increasingly uncomfortable for both players and supporters across the region.

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But the biggest concern is the threat of thunderstorms. Under FIFA regulations, play must be automatically suspended if lightning is detected within an eight-mile radius of the stadium.

Should that happen, players would not be permitted to return to the pitch until at least 30 minutes after the last recorded lightning strike. Teams would then be given a further 15-minute warm-up before play could resume.

Fans in the UK will be hoping conditions ease before kick-off to avoid another weather-related delay that means watching a World Cup match into the early hours of the morning. The game is currently due to finish around midnight if it does not go to extra time, but a weather delay and the prospect of a penalty shootout would mean the winner not being declared until the early hours of Sunday.

AccuWeather senior meteorologist Chad Merrill believes thunderstorms are likely to develop around the stadium in the build-up to Saturday’s quarter-final.

The 5pm local kick-off could increase the risk of disruption, with afternoon thunderstorms a common occurrence in south Florida at this time of year. The hope is they pass in time for the match to go ahead as planned.

He told Sun Sport: “Right now we’ve got in Florida a sea breeze type of setup where you get these afternoon showers and thunderstorms that come off the Atlantic.

“And for Miami itself, they get thunderstorms during this time of the year that typically happen in the afternoon.

“It’ll come in during the morning, and then during the midday to early afternoon there will be a couple of thunderstorms in the Miami area. Those thunderstorms can produce a lot of lightning in Florida and brief heavy downpours.”

As things stand, kick-off remains at 10pm UK time but officials will monitor forecasts in the hours before the match and enact safety protocols if required.

It would not be the first weather-related interruption at this summer’s World Cup. England’s last-16 victory over Mexico was delayed by more than an hour because of relentless rain, while France’s group-stage clash with Iraq was suspended for two hours at half-time following torrential downpours.

The National Weather Service has also warned that the combination of extreme heat and humidity increases the risk of heat-related illness, urging supporters attending the match to take precautions.

A statement from the US National Weather Service said: “Drink plenty of fluids, stay in an air-conditioned room, stay out of the sun, and check up on relatives and neighbors.”

Two fire crews were brought to Glisthwaite Lane in Green Hammerton at 9.16pm on Friday (July 10).

At the time, North Yorkshire Fire and Rescue Service said the fire had spread approximately two metres into a nearby field of standing crop.

The fire was extinguished before a thermal imaging camera checked for further hotspots, a service spokesperson said.

They added: “The local farmer was informed of the fire before crews left the incident.”

Thirty tech billionaires are trying to build a self-proclaimed crypto micronation called ‘Liberland’ on a muddy section of unclaimed land in the Danube River.

The uninhabited marshland on the border of Serbia and Croatia was founded by Czech libertarian politician Vít Jedlička who claimed the territory in 2015.

His vision was to create a nation which eradicates tax and government regulation and it has gained support from the likes of Chinese crypto billionaire Justin Sun.

The group are using blockchain – effectively a secure digital ledger – to construct the first decentralised autonomous government and also the world’s ‘freest country’.

Now, 11 years on ‘The Free Republic of Liberland’ has 200 registered companies but still lacks any proper infrastructure and is not recognised by any other nations.

Those behind the project have therefore set up a permanent outpost across the river called ‘Ark Village’ which has shared rooms, kitchenettes and a meeting room.

Investigative reporter Matt Shea gained rare access to the area for new documentary The Tech Billionaire Takeover which airs on BBC Two on Sunday at 9pm.

Mr Shea is taken inside the Ark Village main building to have breakfast with members of the group including Mr Jedlička, whom he describes as ‘Mr President’.

Mr Shea meets Czech libertarian politician Vít Jedlička who claimed the territory in 2015

Scenes in the BBC documentary from Ark Village, which has been set up next to Liberland 

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Mr Shea looks around some of the accommodation at Ark Village, which is close to Liberland

The Free Republic of Liberland is a self-proclaimed micronation on the island of Gornja Siga. Pictured: A team wave with the Liberland flag before heading to the island in 2016

The journalist is then told he will be shown around the plot they bought around the property with the intention of building a longevity clinic and spa.

A longevity clinic focuses on extending healthy aging, using advanced medical testing to find hidden health risks early rather than treating illness after it occurs. 

Mr Jedlička says: ‘I think longevity tourism in general will be one of the key businesses, not just cryptocurrencies, not just AI which we already have quite a lot.’

The reporter also speaks with Mr Sun, the 35-year-old founder of Tron who was elected prime minister of Liberland using blockchain elections in October 2024.

Mr Sun says: ‘Liberland represents a bold vision for the future – one where sovereignty, innovation and the individual’s freedom are at the centre of society.’

Liberland is located on the marshy island of Gornja Siga – which is unclaimed by both Serbia and Croatia due to a border dispute stemming from the 1990s Balkan wars – and is home to wild boar, woodpeckers and red deer.

Croatia deployed border police units and patrol boats to prevent repeated attempts by Liberland organisers to reach the area when it was first set up in 2015. 

Serbian police prevented them from crossing the border from their side.

Since being declared independent by Mr Jedlicka, there are now more than 1,262 registered citizens and 804,000 applications for citizenship.

Czech politician Vít Jedlička (centre left) with the Liberland flag and other citizens in 2015

Mr Jedlička had a vision to create a nation which eradicates tax and government regulation

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Liberland citizen Dorian Stern-Vukotic on board the Liberty boat with forms the nation’s navy

The island is unclaimed by both Serbia and Croatia due to a border dispute from the 1990s wars

A man applies for Liberland citizenship in the village of Backi Monostor in Serbia in 2015

People look at the Swan, a shuttle vessel connection between Batin in Croatia and Liberland

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A man holds a Liberland passport. There have been 804,000 applications for citizenship

Liberland, seen from a plane, is a parcel of disputed land on the western bank of the Danube

A man holds a numberplate from Liberland, which now has 200 registered companies 

A settlement on the island – which is about the size of Gibraltar – has been up and running since August 2023, with a core group of people maintaining a continuous physical presence. 

They have been developing the land, having already constructed the first house, set up basic infrastructure and marina facilities.

Liberland’s website states that non-EU visitors who cross into the area from the Croatian side are usually issued a notice requiring them to leave Croatian territory within seven days, accompanied by a temporary re-entry ban.

However, it also says those seven days are ‘more than enough to earn full Liberland citizenship’, by helping with construction, clearing land, building infrastructure or other community projects.

Liberland citizens use cryptocurrency to pay voluntary taxes for the upkeep of the heavily-forested island and its navy, known as the ‘Liberty’.

The tokens are the Liberland Dollar, which handles money and network fees; and Liberland Merit, which handles voting and laws. Both can be both be bought with bitcoin.

Liberland has a motto of ‘To Live and Let Live,’ but it has previously been described by Croatia as ‘a virtual caricature’ while Serbia said it was an ‘entertaining act which needs no further comment’.

Other individuals in Europe have previously declared the formation of a micronation nation state – including the Principality of Sealand, an abandoned North Sea oil rig off the coast of Suffolk which declared independence in 1967.

‘The Tech Billionaire Takeover’ airs on BBC Two on Sunday at 9pm