A ‘Very Big’ News Week and Grand Gestures
16th November 2020
Just over a month ago, I wrote my last article and over the past month, the FTSE 100 has swung from going down 7.3% and rising by 14.4% from this low. Initially the negative response was due to the second lockdown and then we had news of Joe Biden winning the US election and of course Pfizer having a successful result on a Covid vaccine. Furthermore, we have had a swing of opinion from Growth stocks back to Value stocks and a story headlined: investors rage as market surge crashes trading platforms.
The finance and stock picking journalists have been having a field day! Rest assured we continue to ignore the short term noise; remain patient; keep a close eye on the long term rather than what markets are doing today; stay disciplined, deliver through careful asset allocation, diversification and regular rebalancing of asset allocations to keep your portfolios in line with your financial plans.
I am continually reassured that our approach is the right one especially when you continue to support our business through referring friends, colleagues, and acquaintances for financial planning advice. One of my recent referrals benchmarked our recommended portfolio against a much larger Investment Management Company who manage more than £50 billion and advised we had delivered higher returns since our launch in 2012.
As you know, we have been keeping you informed of our progress on developing the new Ironbright Platform and to follow up Dan’s article on 16th October, I can confirm the Platform has now been launched. As explained, we are undertaking a deliberate and staged transfer of your assets to ensure a smooth transition. Please look out for a message on our Personal Finance Portal over the next few months which will include a letter of recommendation to transfer to the new platform together with a request for you to agree to the advice.
… and finally, I picked out this article regarding a true great – Sean Connery who died recently. It is never the big things but the grand gestures, that people remember.
In 1984 I was hitch-hiking through Spain on my way to North Africa. A proud Scot, I was wearing my Maclean-tartan kilt while still in Europe. In Marbella, a white Mercedes pulled up, and from the driver's window a balding head poked out, 'Where are you headed, Mr Maclean?' This was Sean Connery. He had recognised my tartan as his mother was a Maclean from the Isle of Skye (whenever you see pictures of Mr Connery in a kilt, it is the Maclean tartan he is wearing).
The great man gave me a lift 15 miles down the road, but not only that, he stopped at his house on the way, introduced me to his wife, and had his manservant make sandwiches for my journey.