19. Why tractors and M&S could do well but bonds could disappoint

Investing in assets that have lost 50% of their value could be scary stuff – but if you research them thoroughly, amongst all the rubbish you can occasionally fund something of value that has been mistakenly discarded by investors. Alastair Mundy talks to us about the loyalty of M&S customers, the quality of John Deere trackers, and tells us why gold and silver are insurance against central bankers’ eagerness to avoid a recession.

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Alastair uses his distinctive contrarian equity investment process and combines it with primarily bonds, but also gold and cash, in the Elite Rated Investec Cautious Managed fund. His aim is for the equity portion to drive the fund’s long-term performance, while the fixed income portion reduces volatility.

Read more about Investec Cautious Managed and Investec UK Special Situations fund

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