•    Always diversify your portfolio across equities, asset classes and currencies.

•    A Towers Watson study suggested that it can take 17 years to discern luck from skill in a manager. Don’t be short-termist.

•    Have realistic expectations as to likely market returns.

•    Fees matter in a low-return environment.

•    Be aware of behavioural biases in financial decision making: over-confidence, loss aversion, extrapolation, under-reaction and overreaction.

•    Remember Warren Buffett once said: “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.”

Source: Beaufort Investment Management