My thought for consideration this week is a simple one - you should always keep an open mind.
I was struck by this twice recently. Gold is one example. Is there really any reason to hold the asset class? It does not pay an income, so, in effect, it is a 'dead' asset. Of course, this is not true and I was struck that, when used appropriately as a defensive asset, it can be a contributor to performance. GAM has around 5% of its range of 'risk-targeted' managed portfolios in gold, along with an allocation to EMD in one or two of the products, and its performance has held up well. Memo to self: do not be so dismissive of gold. Equally, the same memo could apply to structured produ...
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