The year-end is a great time to reflect on your investment portfolio and see where it is. For anyone invested in the local market it was a good year. Year to date, the JSE All Share has increased 21.4% while the Top 40 is up 19% - a very impressive bull run. However, as we go into 2018, there's a lot of restlessness creeping into investor sentiment around the outcome of the ANC's elective conference this coming weekend. As an investor, you may find it difficult to map out a clear investment direction for your portfolio. This is especially true if you're considering rebalancing your portfolio, but you don't want to make a decision based on current events - especially because you don't know the full extent of their impact. So how do you protect your interests? You can hedge your investments. Hedging is a risk-management strategy that is used by investors, both individuals and institutions. The purpose of hedging is to minimise your chances of losses should you find yourself in a risky...

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