The last two years have been quite difficult I have found. I...

The last two years have been quite difficult I have
found. I have actually started to look at some
unlisted funds and will likely be putting some
money to work in the next week or so.

Broadly though I’m a believer in managers having
a hot streak and then going off the boil for a while.
I tend to trade in and out of positions as they
outperform and then revert to the mean for a
period. While I have got a few wrong over the
years, in the main I have done better than just
buying and blindly holding. It’s the main reason
I have preferred LICs, as it’s easier to trade on
the exchange than unlisted.
That been said I went against my better judgement
and took a small position in WMI and WAX last
week.