David Coombs explains why he is holding off trading in his partner's Mini Cooper - and why his reasons for doing so make him similarly wary about exposure to the automobile sector in his multi-asset portfolios
Like many commuters, my partner and I have a ‘station' car. In our case, it is my partner's 10-year-old red Mini Cooper. She loves it - I do not. It is heavy on the steering, the air-conditioning does not work and it is continuously tuned to Vanessa Feltz in the morning. Warning lights flash off and on with a regularity bordering on disturbing. Lately, we have been umming-and-ahhing about replacing it with a new station car. Despite my hatred for this abomination of an automobile, however, I am reluctant to replace it just yet. Why? Being a multi-asset manager, I like to buy things...
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