From Capital & Conflict (GBR) –
The past two months have flown by since the relaunch of The Fleet Street Letter in late January. At that time, stockmarkets were falling as negative interest rates were unsettling the banking sector and the Chinese slowdown was impacting commodity prices. It was looking like another sharp fall for the market, but never underestimate the impact of stimulus.
The Fleet Street Letter was first launched in 1938. There have been over a dozen editors, and I considered it to be a privilege to join their ranks. There has been no sense of continuum between the editors. Instead they have been bound by having an insight into financial markets. My plan was to make The Fleet Street Letter relevant to our times. Investors today have cheap access to the market via the internet, yet are confused by the excessive choices they face. In particular, I wanted to offer high-end portfolio advice, used by the super-rich, to a wider range of investors.
To achieve this, simply and effectively, my plan was to have two portfolios called “Whisky” and “Soda”. Soda is a blend of high quality assets whereas Whisky is comprised of equities. Whisky’s holdings would include various sector or country funds, in addition to direct UK stocks as just described. I would expect to hold six to ten UK stocks, two or three sector funds (ie, oil, technology and consumer) and two or three country funds – which are most useful for asset allocation. Whisky and Soda can be mixed according to your personal taste. The stronger it is, the riskier – and vice versa.