BT63 wrote:My portfolio has held up well, still within 1% of its all time highs.
I had a good proportion in the right investments but they might have done well for the wrong reasons, so I don't know if I was skilful or lucky.
Essentially last autumn I built up a very large weighting in precious metals and their miners, plus a moderate cash reserve because I was concerned that central banks would struggle with inflation and risk crashing markets and causing a deep recession if they raised rates by more than token gesture amounts.
I was preparing for stagflation and I was expecting things to take a turn for the worse on or before the FOMC March meeting when a rate rise and possible QT was telegraphed as likely, with the taper tantrum of a few years ago giving an idea of what to expect if the Fed tried it again.
But instead of central banks and their actions/inaction causing financial instability and an inflation problem, we have the Ukraine invasion which seems to have caused much the same set of problems.
This week, for the first time in a while FTSE began to take my interest for topping up. P/E 14.5x, yield 2.8%, cover 2.5x. That's not at all expensive, especially considering the very low yields available on bonds or cash.
I'm not yet enthusiastic enough to deploy my cash reserve (8% of portfolio) or switch out of precious metals (36% of portfolio) but I'm now watching closely.
I assume for the purposes of comparison you are excluding your cash reserve and precious metals from your portfolio results? If so you are doing well.
Dod