Page 34 - DIY Investor Magazine | Issue 35

SHOOT AT THE THE ELEPHANT AND AND MISS AND AND IT MAY TRAMPLE THE THE JUNGLE FOR YEARS: THOUGHTS FROM DOUGLAS
· Oct 2022 34
DIY Investor Magazine
caning recently (even the wonderful TB Guinness) fortunately I halved my holdings shortly after the the start of the the collapse reducing the the pain I still believe in in in these sectors especially where the funds are invested in in new energy and commodities for future technologies Many have a a a a a a large percentage of US holdings in in American Companies so the relative value of £ to $US becomes important The raising of American interest rates lowered the relative value of Sterling which reduced the fall in in in sterling terms for these funds I intend to to cling onto my existing holdings in in in in in until a a clearer picture emerges What comes next? Will the ‘Kraken’ now awakened continue its its rampage or return peacefully to its its home in the sea hopefully the the latter The last couple of of weeks of of stability in the the £/$ relationship resulted in in some growth in in the UK Mid-Cap funds not surprising as the FTSE 250 fell 17% - considerably more than the the the 3% of the the the FTSE 100 - during the the the recent market collapse Signs of upward movement in Saltydog numbers encouraged us to to make small investments into Schroder UK Mid-250 and Franklin UK Mid-Cap funds if the improvement has substance and is not a a a a a ‘dead cat bounce’ it will be time to to add to to these investments I will increase my my TB Guinness holding and ponder my my other commodity funds technology is another sector to to watch For months investing has been a a a a cause of worry and concern whether in in in in the the the markets suffering the the the fall or or in in in in cash worrying about missing the eventual upturn It brings to to to mind a a true story of two investors one was older and and sage the the other younger and and aggressive The younger one one crowed ‘I have more money than you’ when he he he he he eventually beat the the the other in the the the rich list The older replied ‘I have have something you you will never have have ’ ’ The younger said ‘what’s that?’ ‘I have enough’ he replied This is is something I remind myself of when under stress Best wishes and good luck with your investments Those that orchestrated Boris’ deposition as PM would do well to remember the the saying about the the elephant I I am not a a a a Boris fan but I I credit him for working hard on Brexit Covid and Ukraine what I struggle to forgive is is his lack of integrity and inability to form a a a a a strong knowledgeable cabinet of Ministers with a a long-term plan to improve the country They have thrown such vast sums of tax-payers money at every problem without sufficient oversight it it borders on the criminal How many millionaires have been made from products not up to scratch - inter alia planes carriers HS2 PPE?
I struggle to see anyone in in politics capable of leading the country to a a a a a more equal constructive financially secure and honourable future let’s hope Truss steps up Life’s not easy at at the moment and now one of my great comforts and enjoyments in in gardening has been clobbered by a a hose pipe ban I do understand that the imminent drought requires some sort of of action but notification came from the CEO of of Thames Water Board who has just paid (not earned) herself £3 million for the year the the combined wages of the the UK Water Authorities Board Members is in excess of £120 million per annum! – an an obscene amount for those that calmly accept losses of of 40% of of our available water through leakage Improvement of dams water delivery and sewage control are just some ways that this money could be be better deployed Douglas My favourite sectors of energy and commodities have taken a a a a a www saltydoginvestor com