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Beat the System: The U.K. election reminds us that nothing is ever certain

Not one person, especially not Prime Minister Theresa May, thought a hung parliament in the U.K. might be on the cards.

LONDON (MarketWatch) — My late friend Peter Bennett must be laughing himself silly from beyond the grave.

Peter, a brilliant and understated British money manager, died last year. But as the U.K. general election shocker rolled in Friday morning, I thought of him again, and especially one of his favorite investment mottos.

“Remember,” he used to say, “nothing in this business is ever more than 80% certain. Nothing.”

By amazing coincidence, as I reported Wednesday, British bookmakers were so convinced Theresa May had this election in the bag that they gave her an astonishing 85% chance of forming a majority government.

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