Money manager Aberdeen Asset Management has enlisted the help of actress Joanna Lumley to launch its guide to the seven deadly sins of multiasset investing.
Perhaps better known for her role as the smoking and drinking magazine editor Patsy Stone in the U.K. sitcom “Absolutely Fabulous,” Ms. Lumley's latest role has her providing the voice-over in a series of videos available on social media and its website.
The first video addresses lust: “While a short-term view has its place, an overall less lusty approach, weathering market ups and downs, can prove to be more fruitful in the long term.”
Gluttony addresses the need to be disciplined enough to “screen out market noise,” while greed addresses the issue of herding. “If everyone is rushing to invest, it's probably best you don't,” Ms. Lumley muses.
There are few shortcuts in multiasset investment, Ms. Lumley says, covering the deadly sin of sloth.
The fifth deadly sin is wrath, she says. “When markets are plummeting and everyone is selling, it's easy to panic. But if your portfolio is properly diversified, you can afford to be an oasis of calm.”
Envy addresses benchmark hugging, which “is driven largely by fear,” Ms. Lumley says. “Imitating the index is the poorest form of flattery.”
And finally pride. “Overconfidence and ignoring the warning signs can be fatal — investors often make the same mistakes over and over again.”
This series is the second from Aberdeen, and follows the 10 golden rules of equity investing, released last year and narrated by “Monty Python” star John Cleese.