John Baron's Investment Trust Portfolio 

Time to reassess and be contrarian

Time to reassess and be contrarian

Sound investment requires a combination of qualities – some of which are symbiotic. Humility, a much underestimated quality, helps us to understand it is better to remain invested than to try to time the markets because few can accurately predict the future, while it also allows us to better recognise when we have been wrong and to move on. Yet conviction is also required to commit to an overarching investment policy, otherwise portfolios can be unduly buffeted and influenced by prevailing winds, and to support contrarian opportunities when sentiment trails the fundamentals.

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