We said in another previous viewpoint that the best time to invest can be when it feels most
uncomfortable (UK equities: in need of a vaccine!, October 2020). After all, we know the dangers of market timing – in particular, when you get it wrong (Figure 1). We are pleased we held our nerve, leaned in, and bought more of these apparently beleaguered firms.
Figure 1: The fear of missing out – FTSE all share total cumulative return (1998-2021)
Source: Columbia Threadneedle Investments, Liberum, as at 22 March 2021
A game of two halves
Extra time ...
... and penalties?
The (portfolio) manager: Richard Colwell struts his stuff by the Charlton Athletic dugout