The weekend’s news has again illustrated the strong emotional responses produced by politics today and by Donald Trump in particular. It is no coincidence then that the current prevailing sentiment among investors is that returns and price behavior in the coming year will be determined by the actions of President… Read the article
Month: January 2017
The past week has been rich in press conferences, speeches and comments from world leaders and entrepreneurs. Despite some inconsistencies, surprises, and doubts, they all seem to agree on an improvement in the underlying economy, be it already in place or about to come.
In the US, better economic conditions,… Read the article
In 2015, Tony discussed the growing popularity of ‘Diversified Growth Funds’ (DGFs). DGFs typically seek to generate returns comparable to the stock market but with lower volatility. They have been successful at raising assets in a world where many institutional investors have been ‘de-risking’ and the… Read the article
We are often asked by investors whether looking for ‘episodes’ as investment opportunities can be dangerous. After all, if investors are panicking, can’t this become self-fulfilling?
Indeed it can and in a speech two weeks ago, Robert Shiller outlined some of the reasons why. Shiller was speaking at the… Read the article
Yesterday the UK Prime Minister Theresa May gave a speech at Lancaster House which outlined potential objectives for the country’s Brexit negotiations. In it, she presented a Brexit plan that suggested a more meaningful break with the European Union than many of the possible options.
So why did Sterling strengthen… Read the article
This certainly proved to be the case in calendar year 2016. The pro-bond and ‘safety… Read the article
There were a couple of pieces written in the media in 2016 suggesting that the year represented a tipping point in the shift from active to passive management, both in equities and fixed income markets. Whether or not this is true, when it comes… Read the article