What a difference a month makes. There is now no doubt we are in the midst of a global pandemic, the like of which no living person can recall. Originally, the fear was a global economic slowdown. Now, a deep worldwide recession is a certainty and the real fear is a resulting depression, the like…
It seems we live in extraordinary times. As if Brexit, US elections, impeachment and endless experimental monetary policies weren’t sufficient, we now have the Coronavirus to add to the mix. Numerous companies have already stated this is now having a material effect on trading within China and we have no doubt there will be more…
2019 was the best year for global equities since 2009. Sino-US trade tensions failed to escalate into a full blown trade war and while the world economy certainly slowed, it didn’t match the worst predictions. Markets were also supported by the US Federal Reserve’s decision to reduce rates three times. Of course, as the cost…
Philosophy (from the Greek, ‘filosofia’) means love of wisdom and concerns itself with the study of existence, values, reality and knowledge; all essential stuff. As we know, the likes of Aristotle, Plato and Confucius made immense contributions to human thought and civilisation. Strangely, these giants of the ancient world instantly came to mind the other day as…
So, now we know. Mr Johnson’s electoral success puts paid to over 3 years of political logjam and the UK’s withdrawal from the EU can truly begin. Well, that’s the theory although one suspects sorting a trade deal will not be plain sailing. Anyway, we can perhaps now concentrate a little more upon economic matters…
The demise of Neil Woodford’s empire has been truly astonishing and it’s not just its founder that faces scrutiny. The spotlight is now on the Financial Conduct Authority, together with Woodford’s Authorised Corporate Director (ACD), Link Fund Solutions. The FTSE 100 quoted financial services group, Hargreaves Lansdown, also has questions to answer regarding the closeness…
Mark Twain remarked that “history doesn’t repeat but it often rhymes”. He’d probably never been to Argentina. A year ago, it issued $2.75bn of debt at a yield of 7.9% in a capital raising that was 3.5x oversubscribed. The duration of this bond (its life) was 100 years; a detail that Gillian Tett, writing in…
Investors will be well aware that world stock markets have been rattled over the past couple of weeks. Chatter about a mini crash came naturally after Wall Street shed 6% in a single session. Various culprits were rounded up; rising U.S. Treasury bond yields, simmering inflation, Oxfam, the reduction of central bank stimulus and the…
So, Donald Trump will soon be sitting in the Oval Office. The BBC’s period of official mourning still has a week to run but from Silicon Valley to Islington (via Hollywood), the liberal left remains in a state of shock; if only the ‘deplorables’ couldn’t vote, Hillary would be President with Beyoncé and Jay Z…
The French fund manager, Jean Marie Eveillard, states “a good value (i.e. patient) investor aims to buy investments at prices that are less than they are truly worth and accepts there will be periods of short term pain. It is one reason why there are so few good value managers. It is not just psychological;…