Editor ’ s letter
Some investors may find it difficult to think about their portfolio at the moment , given the tragedy unfolding on the other side of the continent .
This is something I can empathise with , and for the first time in my investment career , I ’ m not looking upon a dip in the market as a chance to pick up stocks on the cheap – like many of you , my mind is elsewhere .
Yet there is little I can add to the deluge of newsflow surrounding the war in Ukraine , and let ’ s face it , you don ’ t read this magazine to hear my opinion on current affairs . So , from an investment point of view , I would urge you to at least consider a course of action that I don ’ t think we talk about enough : doing nothing . Selling out at a time like this will only crystallise your losses , and trying to pick up bargains while everything is up in the air can prove costly – just ask the investment trust manager who bought into a Russian retailer on the day of the invasion ( more on that next month ). Instead , continue drip-feeding money into your portfolio if you can afford it , while if you are planning to retire in the next few years , it may be best to wait for more benign conditions before de-risking .
Whatever you do , don ’ t take any rash decisions . There are plenty of charities you can donate to if you are distressed by the images coming out of Ukraine and want to do something positive . But when it comes to investing , it is always best to keep your emotions out of it .
Enjoy reading ,