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King Lodos
Posted: 29 January 2022 15:05:35(UTC)
#322

Joined: 05/01/2016(UTC)
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smg8;206087 wrote:
Genuine question KL, would you feel comfortable having 25% gold in a portfolio?

Is there a viable substitute?


In principle .. And 17% gold in an Invest Engine account feels absolutely fine.

I think if I had all my money in Invest Engine, I could do 25% gold – because it presents it in a way that makes you much more aware of the whole (and not so much the components).

But psychologically, having a very large gold holding in a regular portfolio – where I'm seeing it as an individual holding – I think it would feel precarious .. Pure psychology .. I'd probably go something more like:
10% gold
10% commodities
2% gold miners (leveraging gold/metals exposure up to about 25%)
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smg8 on 29/01/2022(UTC)
Robin
Posted: 29 January 2022 15:07:13(UTC)
#342

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Thanks Rob, and helpful to get your views - I am wondering about just rolling it up into CGAR/Ruffer Total Return or even going back into VT RM Alts (F Class) which has been steady since March 20. This goes against my attempts to settle down. On the other hand, I purchased originally for something to sit for a long time for the role it plays in a whole portfolio, and it does give a wide exposure to precious and industrial metals, not really the sort of thing I should be moving in and out of or even looking at too often, perhaps supplementing the gold in Trojan Ethical.
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Rob B on 29/01/2022(UTC)
Aminatidi
Posted: 29 January 2022 15:07:13(UTC)
#343

Joined: 29/01/2018(UTC)
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I do wonder if things have got so bad you feel the urge to call the Royal Mint to ask them to deliver your gold to you, what chance you think they have of making it there in one piece with your gold.
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J-san on 30/01/2022(UTC), Guest on 04/02/2022(UTC)
Andrew59
Posted: 29 January 2022 15:18:58(UTC)
#344

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Ive only a small position in TB Amati Strategic Metals but I watch it with interest because it moves differently to 'normal' equity - or appears to.
What is suprising is that it's performing better since the beginning of the year than many multi asset funds which I thought would have been more defensive. (In fact BGM and RL Sust Wld are amongst my worst performers).

If it drops to under 90p Id be tempted.
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Robin on 29/01/2022(UTC)
Robin
Posted: 29 January 2022 16:05:03(UTC)
#345

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Yes, that is what does appeal to me, taking my portfolio as a whole.
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Sara G
Posted: 29 January 2022 16:14:14(UTC)
#323

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King Lodos;206195 wrote:
smg8;206087 wrote:
Genuine question KL, would you feel comfortable having 25% gold in a portfolio?

Is there a viable substitute?


In principle .. And 17% gold in an Invest Engine account feels absolutely fine.

I think if I had all my money in Invest Engine, I could do 25% gold – because it presents it in a way that makes you much more aware of the whole (and not so much the components).

But psychologically, having a very large gold holding in a regular portfolio – where I'm seeing it as an individual holding – I think it would feel precarious .. Pure psychology .. I'd probably go something more like:
10% gold
10% commodities
2% gold miners (leveraging gold/metals exposure up to about 25%)




Coincidentally I have just over 17% in my SIPP, which I can see as individual ETF holdings, but that doesn't feel precarious to me and I'd be happy to see it go higher (but not too much as that would mean something really bad happening). I think it depends when you buy it as to how you feel about it... Most of my purchases were made when it was trading around $1200, so it looks quite good on the screen. Psychology is important, even though my buy price shouldn't matter. If it stops me losing faith in Gold a an asset class in the short term, than that's helpful.
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Sheerman on 29/01/2022(UTC), Aged techie on 29/01/2022(UTC)
JayW
Posted: 30 January 2022 15:52:17(UTC)
#336

Joined: 25/08/2019(UTC)
Posts: 358
Aminatidi;206184 wrote:
Does PNL hold actual physical gold somewhere or, apart from the miners like Franco is "gold bars" just an ETF?

Trojan suggests and ETF as it references Invesco Physical Gold.


As far as I can tell it's not an ETC, and is alluded to in these articles:

https://citywire.com/fun...vestment-trusts/a498342

https://www.investorschr...4uqAN0XDIN/article.html

Why they aren't more transparent I've no idea.
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Jesse M
Posted: 03 February 2022 09:48:51(UTC)
#318

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King Lodos;206192 wrote:
Aminatidi;206097 wrote:
smg8;206087 wrote:
Genuine question KL, would you feel comfortable having 25% gold in a portfolio?

Is there a viable substitute?


I can only answer for myself but the answer is yes but I wouldn't feel comfortable seeing it as a line item saying "gold".

It's why I like all-weather because if I look at the share price at any given time I don't know what's pulled it up or down or what's going on under the hood.

I know if I did a manual all-weather I'd hate going in and seeing gold down 40% even if something else was up 40%.

Not unique to gold I'd probably be the same if I went and bought a TIPS fund or whatever else.


The great thing with Invest Engine – psychologically – is you don't really notice what individual holdings are doing .. You log in, and immediately see your portfolio as a whole.

You have to click on the individual assets to see how they're doing, and it detaches you from it .. You realise how small a 17% (even 25%) position is, when it's cratering and your portfolio's holding up fine



Hi KL, thanks for the link I opened an account and had a look around. Do like the DIY portfolio tool.
Was thinking about leaving my pot with ii and forward investing into IE however there is actually so much choice in terms of portfolio construction I wonder if I might end up messing about a lot more vs just having mutual funds with ii.
I guess a lot depends on personal goals and market outlook but it's tempting to attempt to construct an all weather cheap etf portfolio but tbh I wouldn’t know where to start.
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King Lodos on 03/02/2022(UTC)
Strangways
Posted: 03 February 2022 13:30:33(UTC)
#346

Joined: 23/12/2020(UTC)
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PNL's large Microsoft and Alphabet holdings (12% in total) look like a good move. 21% in cash!
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Aged techie on 03/02/2022(UTC)
JayW
Posted: 03 February 2022 14:10:58(UTC)
#347

Joined: 25/08/2019(UTC)
Posts: 358
Strangways;207263 wrote:
PNL's large Microsoft and Alphabet holdings (12% in total) look like a good move. 21% in cash!


This worries me because they could equally have looked like a bad move. I'm not sure that such a concentrated high-conviction position in a handful of stocks is what I want from my wealth-preserving funds. In fact it isn't, so I hold CGT and RICA but am continuing to avoid PNL.
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Aminatidi on 03/02/2022(UTC)
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