Hello,

Keen observers of investment markets are liable to comment on just how often markets provide lessons for us all to learn, and indeed evidence of key investment principles the majority should adhere to. It has been a volatile 2025, with the April tariff announcement induced turmoil, subsequent recovery, outsized movements in currency markets. With all that in mind, markets are relatively flat over the last month.

 

However, parts of the market that have garnered much interest are not. For example, following a positive surge at the start of September, Oracle has now given up all its gains, Bitcoin is down 25% from its record high at the start of October, and the Tesla share price had more than halved at one stage in the last year. These observations are not a commentary on the investments themselves, but a commentary on how the narrative of investing can, at times, move away from what serves most investors well, most of the time.

 

Multi-asset funds overall continue to move higher and deliver steadier, diversified returns for long term investors. There will always be a single concentrated investment which will have a better return than a multi-asset fund. This is not to say that individuals cannot do well from such investments. But history tells us that the majority of investors cannot tolerate the swings that come with such experience and are best served by the combination of a consistent approach to multi-asset investing and sound financial advice.

 

As always, if you wish to discuss anything in this newsletter in further detail, please do get in touch.