October 2019: a lousy monthPosted: 2019-11-03
October looked kind of fine, for key equity markets, in local currencies. The S&P hit record highs, for no particularly obvious reason. The the Europe (ex UK) MSCI index went up almost 3%.
However the big news in October was the pound, which rose against everybody. Against the USD, it was up 5%.
So in pound terms, the major overseas equity markets fell.
How about the UK FTSE market? Sadly that fell too, by almost 2%.
Bonds fell off a little bit too, almost everywhere.
So from a pound investor point of view, there was basically nothing going up this month. The markets + forex average (for my weighted alloocation) was -2.4%.
Against a weighted market average of -2.4%, my own portfolio‘s drop of 1.6% must be something to be thankful for. Sigh.