Wow! The World Cup is back. For the next couple of weeks, billions of people will become football experts. Some will even explain to professional coaches what they should have done differently from the comfort of their sofas. Despite a rather busy schedule, I still try to catch the highlights whenever I can.
Investors are not much different. We often spend so much time watching the US market that we forget there is a very large world outside of it. The US has been a remarkable performer for years, but opportunities do not carry passports.
Well, one of the reasons I built my multi strategy approach around global investing is because markets rarely take turns as politely as we would like. Leadership changes. Trends emerge. Capital moves. Sometimes the most interesting opportunities appear in places that were barely being discussed a year earlier.
Today I run nine different investment key models for different risk profiles. Some are defensive. Some are more adventurous. A few have personalities of their own.
Like a football manager, I do not expect every player to score every match. The goal is to build a squad that can perform under different conditions and over a full season, not just one game.
As the tournament unfolds, it is worth remembering that favourites do not always win. Neither in football nor in investing.
Over the coming days, I will also be sharing updates on the performance of all nine models with my partners. No trophies are awarded in investing, but it is always useful to see which players are contributing to the team and which ones are spending too much time on the bench.
As for which team I think will win the World Cup? Like most market forecasts, my answer today comes with absolutely no guarantee. I would be interested to hear your pick.