Hot, hot, hot!!!August 2, 2018Despite the usual weather downers such as the tennis at Wimbledon or the start of the school holidays, July was a warm month pretty much anywhere you looked in the northern hemisphere. Global stock markets were hot too, led by the out-of-favour emerging markets and Continental Europe. Funny how all throughout June and July the aggregate investment flow data was profoundly negative for both regions… Continue Reading
Squaring Off: A High-Stakes Global GameJuly 9, 2018Major macro factors affecting the economy and financial markets over the next six to twelve months include trade policy, interest rates, earnings growth, Federal Reserve (Fed) policy, and geopolitical uncertainty. Continue Reading
Decisions, decisionsJune 4, 2018I thought I would use Billy Connolly’s witticism about his homeland to highlight the essential debate in financial markets at the moment. During the last month, the UK’s most-quoted stock market index - helped by a rising oil price boosting energy sector shares - reached an all-time high. Continue Reading
Ch-ch-ch-ch-changes?March 15, 2018So how was February for you? For many it would have been a bit of a shock with the global indices in aggregate posting their first monthly loss since the autumn of 2016, which is a long time ago. The real question however is whether this heralds a new downward trend, whether this is just a new volatility reality or whether we should view this as a buying opportunity? Continue Reading
Finding out what fear is all aboutDecember 5, 2017Many years ago I was told that if I found myself uttering the phrase that ‘investment was easy’ I should sell all my outstanding positions and go and sit in a darkened room and have a think about it all. These words came back to me a few days ago when I came across some information about the investing habits of one of the UK’s true historic geniuses Sir Isaac Newton, the mathematician, astronomer, theologian, physicist... and almost bankrupt investor. Continue Reading
The UK is dancing all by itselfNovember 6, 2017I pointed out in the most recent Investment Services Quarterly that over the past fifteen or twenty years October had a slightly rude reputation as a bad month for equity market investors. October 2017 will go down in the history books as not only being a positive month for almost all global investors, but additionally one which saw many well-regarded volatility measures continuing to bump along the bottom. Good returns and low volatility… this sounds like some form of investment nirvana. Continue Reading
Investment Strategy Quarterly – OctoberOctober 16, 2017What were you doing on the 5 July 2007? I cannot remember either, but the history books tell us that this was the last date when the Bank of England raised interest rates (by a quarter of a percentage to 5.75%). Since this point, interest rates have only fallen, including the most recent August 2016 decrease to the current rate of just 0.25%. Continue Reading
Hot, hot, hot!!! August 2, 2018 Despite the usual weather downers such as the tennis at Wimbledon or the start of the school holidays, July was a warm month pretty much anywhere you looked in the northern hemisphere. Global stock markets were hot too, led by the out-of-favour emerging markets and Continental Europe. Funny how all throughout June and July the aggregate investment flow data was profoundly negative for both regions… Continue Reading
Squaring Off: A High-Stakes Global Game July 9, 2018 Major macro factors affecting the economy and financial markets over the next six to twelve months include trade policy, interest rates, earnings growth, Federal Reserve (Fed) policy, and geopolitical uncertainty. Continue Reading
Decisions, decisions June 4, 2018 I thought I would use Billy Connolly’s witticism about his homeland to highlight the essential debate in financial markets at the moment. During the last month, the UK’s most-quoted stock market index - helped by a rising oil price boosting energy sector shares - reached an all-time high. Continue Reading
Ch-ch-ch-ch-changes? March 15, 2018 So how was February for you? For many it would have been a bit of a shock with the global indices in aggregate posting their first monthly loss since the autumn of 2016, which is a long time ago. The real question however is whether this heralds a new downward trend, whether this is just a new volatility reality or whether we should view this as a buying opportunity? Continue Reading
Finding out what fear is all about December 5, 2017 Many years ago I was told that if I found myself uttering the phrase that ‘investment was easy’ I should sell all my outstanding positions and go and sit in a darkened room and have a think about it all. These words came back to me a few days ago when I came across some information about the investing habits of one of the UK’s true historic geniuses Sir Isaac Newton, the mathematician, astronomer, theologian, physicist... and almost bankrupt investor. Continue Reading
The UK is dancing all by itself November 6, 2017 I pointed out in the most recent Investment Services Quarterly that over the past fifteen or twenty years October had a slightly rude reputation as a bad month for equity market investors. October 2017 will go down in the history books as not only being a positive month for almost all global investors, but additionally one which saw many well-regarded volatility measures continuing to bump along the bottom. Good returns and low volatility… this sounds like some form of investment nirvana. Continue Reading
Investment Strategy Quarterly – October October 16, 2017 What were you doing on the 5 July 2007? I cannot remember either, but the history books tell us that this was the last date when the Bank of England raised interest rates (by a quarter of a percentage to 5.75%). Since this point, interest rates have only fallen, including the most recent August 2016 decrease to the current rate of just 0.25%. Continue Reading