There is little to be gained in being right if you cannot stomach the journey. Investors’ appetite for risk changes all the time but patience with Mr Woodford finally ran out.
The announcement of a general election in the UK helped revive global interest.
The UK rose from being the most unloved market to the 4th most unloved as the polls initially indicated a large Conservative majority, which was positively received by investors as it could unlock parliament and avoid a Corbyn government which, following publication of his manifesto, was seen by some as more damaging than a no-deal Brexit.
The same issues concern investors now as they did at the start of the year, except markets are bit more expensive.
Adrian Lowcock is head of personal investing at Willis Owen
This column was first published in Financial Adviser before the general election