Another month dominated by politics, is it me(?) but it seems that this is all we have been getting on the news. In the last couple of years, we have had Scottish referendum, General election, European Referendum and now the U.S.A. election, (which seems to be going on forever). They vote next Tuesday (8th) but that will not be the end of it, the loser will be moaning about something. Have you noticed that these staunch upholders of democracy always want another vote when they lose:-
1. Scottish Nationalists want another referendum. (They wouldn’t if they had won)
2. Labour wants another general election, because Teresa May was not the Conservative Leader at the election (didn’t Gordon Brown take over from Tony Blair without another election?)
3. The “Remain” Voters want another referendum because they lost, again if the vote had gone there way, they wouldn’t want a re-run.
4. Whoever loses out of Clinton and Trump, they will cry “Foul” and want a re-run/re-count or something.
You will know by now that I am not a fan of our U.K. Politicians but look at the choice they have got – Clinton or Trump. Out of a population of over 300 million, you would think that they could find two better candidates than these two.
Unfortunately, all this can have an effect on our investments and as I said last month, we are not making any changes to the portfolio until after the election. It is difficult to second guess what will happen, i.e. if Clinton wins, we will get more of the same and if Trump wins, I don’t know what he will “try” and do.
The markets are taking all the politicising in their strides and the FTSE 100 hit a high on the 10th October but has fallen back since then. The Acklam portfolio made small gains over the month, the low being up 0.39% and the low/medium up 0.52%. In the current climate, I am happy with the gains as the funds are invested on the “defensive side”. We will be re-assessing things again after the U.S. Election and making some adjustments.
4th November 2016