‘Investing should be like watching paint dry or grass grow; if you want excitement, take US$800 and go to Las Vegas’. Paul Samuelson, Nobel Prize winner for economics and the author of Economics: An Introductory Analysis (1948).
In one sense we agree with this view, indeed, one of our core beliefs is that managing assets is a long term assignment. In another sense we disagree; to us, investing is exciting, thought provoking and at times scary. Each to their own, we hear you say, and rightly so. This said, we wonder whether investing in the current environment is becoming too stimulating or to use another quote (author to remain anonymous!); ‘a bit like taking a sleeping tablet and a laxative at the same time – not a good idea!’
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