Report for January 2010

The markets have been sinking since the new year, partly thanks to the US assault on American bankers' bonuses. In January (and the trends are even worse already in February) the FTSE100 fell 5% and our portfolio fell 3%, with only Severn Trent showing a small gain (apart from our corporate bonds).

Because we hold so much in cash, our losses in the Unit Value were limited to 2%. However, with prices low, we should be investing.