Portfilio Update October

“Having cash in reserve gives you the ability to act when others can’t — and that’s often when the best opportunities appear.” - Howard Marks (Oaktree Capital)

As I write this month’s update, it’s hard not to think about how close we are to the Budget. There’s always that bit of tension in the air should we tweak things, take some profits, or sit tight?

For me, the answer’s clear: no changes needed.

Our portfolio’s in a good place. It’s a mix of companies with strong fundamentals, healthy dividends and real growth potential. These aren’t speculative punts; they’re businesses built to weather uncertainty exactly what you want heading into a potentially choppy few weeks.

That said, one rule still stands: always keep some cash aside. It gives you breathing space and, more importantly, options. If the Budget disappoints and the market overreacts, we’ll be ready to top up on quality names at better prices.

Investing isn’t about trying to outguess the Chancellor. It’s about staying invested in good companies, holding your nerve, and keeping a bit of dry powder for when others are panicking.

Sometimes, the smartest move is to do nothing and wait.

“Having cash in reserve gives you the ability to act when others can’t — and that’s often when the best opportunities appear.”

- Howard Marks (Oaktree Capital)

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