In a turbulent world the easy option will prove costly for investors

There is a wonderful short book called The Art of Execution, written by a fund manager called Lee Freeman-Shor and published four years ago by Harriman House. If you are even remotely interested in how to invest, go and buy it today. It will take you a couple of hours to read and you will wish you had done so years ago. Most of this short guide is on precisely this question: what should you do when an investment goes wrong?

The answer, if you’ll forgive the spoiler, is what most of us avoid. It is to do one of the other two options – sell or buy. Doing nothing is always the wrong thing because the share price you are looking at will almost certainly not stay the same. It will go down or it will go up.