Not so bad....11 Feb 2023 13:24
Got to laugh. Looking at my trading account from last week, and it's not a pretty sight - although overall it's still been an excellent start to the year. Anyway, it got me thinking about an article in The Sunday Times from a couple of weeks ago. It was an interview with Nicolai Tangen, the CEO of Norways sovereign wealth fund - currently valued at roughly £1,100,000,000,000. When he took over in 2020, he "lost" £140,000,000,000 in the first 6 months (since recovered, and increased). During the course of the interview ( about 1 hour) it dropped by approximately £900,000,000. Of course, that sounds horrific, but in reality is just a perfectly regular fluctuation of only 0.08%. Mind boggling. Certainly puts my piffling little loss last week into perspective.
Got to love those Norwegians, they seem to get just about everything right, and their government could certainly teach ours a thing or two about how to run the country properly.
Anyway, hoping for better next week - if things go well, perhaps my own personal wealth fund will hit £1,000,000,000,000.
Probably not.