Don’t panic over the US debt debacle

The US isn't likely to default, but the fact that we're even considering it shows just how risky markets can be. Cris Sholto Heaton looks at the best way to protect your portfolio against nasty surprises.

One of the things I enjoy about financial markets is the way they can blindside you. Trivial incidents turn into major headaches. And things that everyone was fretting about end up as non-events.

This week, we've seen that with Europe and the US. A default has passed off peacefully so far in one, while the possibility of default is causing panic in the other.

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Cris Sholto Heaton

Cris Sholto Heaton is an investment analyst and writer who has been contributing to MoneyWeek since 2006 and was managing editor of the magazine between 2016 and 2018. He is especially interested in international investing, believing many investors still focus too much on their home markets and that it pays to take advantage of all the opportunities the world offers. He often writes about Asian equities, international income and global asset allocation.

Cris began his career in financial services consultancy at PwC and Lane Clark & Peacock, before an abrupt change of direction into oil, gas and energy at Petroleum Economist and Platts and subsequently into investment research and writing. In addition to his articles for MoneyWeek, he also works with a number of asset managers, consultancies and financial information providers.

He holds the Chartered Financial Analyst designation and the Investment Management Certificate, as well as degrees in finance and mathematics. He has also studied acting, film-making and photography, and strongly suspects that an awareness of what makes a compelling story is just as important for understanding markets as any amount of qualifications.