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Financial Times Guide to How the Stock Market Really Works, 5th Edition by Leo Gough

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10

Investing in other asset classes

Although ‘asset allocation’ is often taken to refer to a portfolio of shares and bonds, it is worth considering non-financial assets such as property, which may offer better returns in certain circumstances and should, in any case, form a part of most investors’ total wealth. This chapter examines the most commonly available assets outside the financial markets, but argues that, for UK residents at least, only property should be an essential element in most people’s portfolios. If, on the other hand, you live and earn your money in a low-tax region where gold can be easily traded, and it is difficult to obtain good title to property, such as much of the Far East, then it may well make sense to hold assets ...

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