Alpesh B Patel avoids Intel and Tesla because of their volatility, despite expecting gains. The S&P 500 returns 12-15% annually and doubles money every five years, while UK pension funds deliver just 3.7%, yet investors defend these poor returns like they're defending their abuser.
Applied Materials, 272. I own, I don't have Intel because I've said it to our clients before. Whilst Trump said buy Intel and he's forced it up because he's got a stake in it and his cronies have a stake in it, tell him to sue me. I don't like the volatility. Same with Tesla. I don't own it. I have no doubt it'll go up. I don't like the volatility. G&V is one of the ones in our, one of our portfolios. Oops. But we don't have, where are we? But we don't have Caterpillar. I don't think it ticked our boxes and Intel was too volatile. So I'm going to give you something else. This is the problem. So the S&P over extended periods, 12% over the last 15 years, about 15%. Okay. 15% per annum. That means you double your money every 5 years. That's just an index tracker. Hey, Alpesh, you're putting yourself out of a job. You just told us an index tracker. I'm not looking for a job. Bye. Okay. There you go. But here's the problem. What are you getting in the UK in your pension? And every single pension— I'll tell you what pisses me off more. It's not that the IFAs will defend 3.7%. It's not that they'll try and bamboozle you by saying, "Oh no, there was one month or one year where this fund did better. Look, we can still do well." Okay? Because they'll spray and pray and they'll say one company did well and the others in their portfolio did rubbish. It's the fact that then private investors who get screwed in their pensions, some of them will defend it as well. They'll defend the same action. That's what annoys me. It's like the abused defending the abuser, and it happens a lot, okay?
