“Corrections are part and parcel of the investment process, they come and go, and it is imperative to take a deep breath and realise that what is most important for building wealth is not “timing” the market, but rather “time in” the market. This does not mean that some cash should not be raised, and some risk be taken off the table, which is what we have done – nobody ever booked a loss by taking a profit – but one has to still be engaged because it is very likely that this is only a near-term pause/reversal in what is still an overall uptrend. The trick is not to live in the moment but rather look at the forest through the trees.” – David Rosenberg, Gluskin Sheff, October 14th 2014.
To put this in context, we too have booked profits and taken risk off the table. Across Affinity’s discretionary strategies, we are currently holding between 8% and 20% cash. This will be deployed as opportunities emerge.
We appreciate you may have questions about your portfolio(s) and markets. Please do give us a call. We would also like to advise you that tomorrow (Thursday 16th October) the Investor Portal will be unavailable, due to a software upgrade.