Given the global slowdown in the economy and low interest rates, are there any specific trade-offs in September, at least some points to consider before investing?
Bertrand Tourmente: I think we need to have a humble look at these topics. The more you listen to the noise of the market, the more likely an investor is to make mistakes. It is essential to give very little importance to ambient noise. We must only rely on the quality of the assets. It is by the quality of what it contains that a portfolio is managed. And it also often proves that all the people we pay around the world are often more wrong than right. The idea is to have an investment that works regardless of the economic cycle. And the courtroom logics can be dangerous.
For example, buying stocks that are growing rapidly and want to be decorrelated from the financial markets is a good thing. And in any case, the basic rule is diversification. Structuring its portfolio by incorporating 25% of unlisted real estate, 25% of prudent assets, 25% of unlisted (private equity) and 25% of shares makes it possible to cross all crises with the greatest serenity. Finally, the secret is also to never sell and always buy.
The only problem is that high quality products are often available with amounts over 10,000 euros. However, keeping this approach in mind is essential.
What do you think are the three investment products that you can bet on when you have 10,000 euros?
For this amount, several products meet this qualitative challenge. As regards the listed shares part, most ETFs (these investments which seek to follow the evolution of the stock indexes) are accessible with 10 000 euros. On the real estate component, I recommend the SCPI. Finally, playing the card of funds in euros as part of a life insurance may be appropriate to secure the overall investment.
Conversely, which products to avoid?
I do not recommend everything about defiscalising products and generates a tax reduction. Pinel, Sofica, etc. They are not profitable by nature. On paper, the future Retirement Savings Plan (PER) seems good, but it will be advisable to remain vigilant with regard to the applied taxation.
Moreover, I do not recommend to opt for anything that resembles near or far to an atypical investment type diamonds, cows, forests, etc. I am not, however, necessarily against investment in the cannabis sector. And this, to the extent that today there is a whole therapeutic area. If the issue of political correctness surrounds this theme, it remains nonetheless that it is an investment that makes sense.
To go back to the products that you do not want to bet on, it's best to avoid anything related to structured products. Why? Because they are formula funds that promise to protect investors in the event of a decline with the return of capital. Except that it is only an illusion. Better to expose yourself to pure asset prices.