One of the challenges with writing these is not so much finding something to write about, it’s that there is so much I could write about! I know what excites.
Read moreMonday Musings 22/08/2022
The Times made for interesting reading this Sunday; a side from a few damning reports on our Tory Leader contenders, Sunak and Truss (and a surprising, if slightly covert, endorsement of one of Corbyn’s economic policies – who saw that coming?!) and a poke at the FCA for not doing more to protect investors from dodgy investments (anyone else able to hear Dad laughing at that one?) there was a fascinating article looking into the rise and catastrophic fall of crypto currency, and an article headed ‘DIY Dozen: the 12 investment errors to avoid’. It’s a well written article, and too long to post in full here, but the 12 ‘errors’ had me nodding like the Churchill dog “Oh yes!”
What was number one on this list? Failing to set goals. If you don’t know where your financial journey is headed, how can you plan a proper road map?
It was also satisfying to see on this list of no-nos, were all things we say to clients often – no to buying past performance, attempting to time the market, checking your portfolio too often (unnerving, especially in these times of market volatility. We should all be looking at long term performance, not short, according to not just us here at Straight Talk, but those clever folk of the Sunday Times too), putting off portfolio reviews, excessive tinkering with holdings within your portfolios… etc. But the overriding advice matches our own – panicked, knee jerk reactions out, considered, long term, safe moves in.
But what are the current market predictions? Further inflation rises and recession are certainly up there – and do remember last week’s musings about the issues caused to cash investments by inflation. But interestingly the prediction is that the Bank of England may prefer a short, sharp recession over a less painful but longer one. The volatility is far from over, but the goal seems to be to get back to growth quickly, even if that means we have to metaphorically rip that plaster off….
So, to the markets,
31.12.2021 | 22.08.2022 | % Change | % Change on week | |
FTSE 100 | 7384 | 7550 | Up 2.24 | Up 0.66 |
Dow Jones | 36338 | 33706 | Down 7.24 | Down 0.16 |
Nasdaq | 15645 | 12705 | Down 18.79 | Down 2.62 |
S&P | 4766 | 4228 | Down 11.28 | Down 1.21 |
NIKKEI | 28791 | 28930 | Up 0.48 | Up 1.34 |
Hang Seng | 23398 | 19773 | Down 15.49 | Down 2.00 |
Shanghai | 3640 | 3258 | Down 10.49 | Down 0.57 |
CAC 40 | 7153 | 6495 | Down 9.19 | Down 0.89 |
DAX | 15885 | 13544 | Down 14.73 | Down 1.82 |
Not all of its bleak out there. Sometimes we hear good things in the press. Ok, not often. But sometimes. For example, news came in the press recently that the.
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