It spread slowly up from the sea-rim, a welling upwards of pure white light, ghosting the beach with silver and drawing the grey bastions of sandstone out of formless space.
Not that I've ever been a chapel-goer myself.
Investors face a quandary. Cash offers a return of virtually zero in many developed countries; government-bond yields may have risen in recent weeks but they are still unattractive. Equities have suffered two big bear markets since 2000 and are wobbling again. It is hardly surprising that pension funds, insurers and endowments are searching for new sources of return.
We can recognise each leopard by its markings.
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