A few days ago, a gentleman we have known for years — a careful investor, the sort who has quietly built real wealth over two decades — called us in some agitation. He had been watching a news channel where an excited anchor, standing outside Bharat Mandapam, was declaring that the world order was about to change. India was hosting the BRICS Summit. The dollar’s days were numbered. A new financial era was dawning. “Should I be doing something with my portfolio?” he asked. “Should I be worried? Or excited?”
We told him what we will tell you now make yourself a cup of tea, watch the summit as a proud citizen, and then go back to doing absolutely nothing with your investments. Because the gap between what a summit feels like and what it actually does to your money is one of the widest gaps in all of finance.
Let us explain why.