A quiet start to the week after the frenetic market activity on Friday as UK shares rallied hard in relief that the election had given a clear result and a Conservative government to boot.
However, I wouldn't get too carried away with the euphoria, even though it was nice to see my portfolio up strongly, as I expect the hangover will come soon. Not only is it May (sell in May and go away), but the Fed may eventually start tightening soon and some bond yields have been volatile recently in advance of that rising sharply from very low levels having even turned negative in some cases - strange days indeed.
Not to mention the new Scottish question and the on going debate about our place in Europe. The other thing to remember is that the last coalition government played the last electoral cycle beautifully. To do this you need to get the bad news and pain out of the way early in the parliament - say the first two years. Then you ease up and try and engineer good times in the economy to coincide with the election - pretty much what they did last time. So I see there is already talk of another budget soon, so I wouldn't be surprised to see some tough measures coming out of that.
Any way just mind how you go and don't get carried away with the current strength in the market I would say. Talking of saying now for the title of this piece. This refers to the lesser known (?) partner of Warren Buffet, who you may or may not know he is called Charlie Munger. He has been quoted frequently and also written lots about investing and other things in his time. I have been reading a good series of article about his life and career. You can find the conclusion to this series here, and this includes links to the previous articles by the author, Rupert Hargreaves, and details of his blog which is called A pauper in the midst of wealth and also has some interesting stuff on it.