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I tend to look at things from like this at a non-portfolio level, and seldom cross-asset (probably as most of my experience has been within specific asset classes.
I know the feeling- the "personal finance" investment decision is very different to doing this institutionally with other people's money.
I tend to think that retail investors (myself included) need a really good reason to do anything more than pay off expensive debt, buy equity tracker funds and try not to check their portfolio balance too often. That reason is usually tax.
NickCJ-
Same here - minimise all debt (including mortgage, where possible, although that's weighed against the unpriceable "utility"), ISAs and then pension, with the cheapest trackers*.
I only know one person (an ex-colleague that I was vaguely friendly with, and still occasionally message) that justifiably does "investing". But 1) he has the legitimate experience and expertise to know what to buy, but more importantly, 2) he's got a ton of disposable wealth. Because 1) is still a dice roll at the best of times, unless you have inside knowledge, can move that market, or are part of a shady pool.
* I remember when I found out that my employer pension cost > 1.5% per year. Some cunt was obviously being paid nicely for that bit of backhanded fuckery.
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I tend to think that retail investors (myself included) need a really good reason to do anything more than pay off expensive debt, buy equity tracker funds and try not to check their portfolio balance too often. That reason is usually tax.
Taking bets can be fun I guess, especially if you are betting on companies you know a lot about in markets you understand - but yeah you probably are not going to get rich from doing your own trading. Someone else is, though :)
NotThamesWater
Howard
Got you.
I tend to look at things from like this at a non-portfolio level, and seldom cross-asset (probably as most of my experience has been within specific asset classes.
I also like the that with an inflation-linked hedge, you reduce the number of unknowns (no doubt paying through the nose for it though), much in the same way that you might choose a fixed rate mortgage over a floating rate.