Thanks Patrick for another insightful article. I had to laugh when they said, ‘they declined to “chase” stock markets when they rallied in March and April‘ because all I took from that is that they didn’t have the balls to capitalise on the greatest investment opportunity of the decade!
Patrick, thanks, that is an area that is not often explored. When it comes to rebalancing portfolios in response to Covid-19, for example more international equities and lightening up on local equities, precious little is said about the impact of the currency underlay. Many % movements are quoted in their local currency but we are in an AUD environment. It is quite interesting to chart various stock or commodities prices through the Covid periods compared to USD/AUD movements.