Mundy: Why a gold and silver allocation is my answer to investors' lack of confidence in central bankers

Investors have been complaining about the lack of volatility for some time now. Perhaps given the bumpy start to 2016, a few are feeling they should have been more careful what they wished for, writes Investec AM's Alastair Mundy.

In general, we like volatility. It increases the chances that investors make irrational moves, and therefore provides some pricing anomalies. Sentiment has certainly turned negative, not helped by both economic and company data providing little comfort. We continue to scour the out-of-favour stocks across equity markets for some mispriced assets. In the Cautious Managed portfolio we have had a conservative allocation to equities for a while. Within that allocation, we have had a preference for Japan over the US. A few years back, Japanese equities were friendless - investors were conc...