For instance, remember when we all thought that having a meeting in person was a thing of the past?
This is not to criticise Zoom or say that they are not a good company – but to observe that human nature, every time, is to get too excited about something that is working on the way up, and too despondent on its prospects on the way down.
The whole point of setting out your investment process in advance is to have some rules in place to rebalance your portfolio when it can feel uncomfortable to do so – history tells us that this is often the right approach to take.
Just because the two traditional core portfolio asset classes have been poor performers of late, does not mean we should abandon them.
David Henry is investment manager at Quilter Cheviot
