The Adventurous Investor

Investment trusts, ETFs, alternatives and more.....


David Stevenson

Stocks in my portfolio: MSCI plus how to invest in global equities

Why I own shares in MSCI but I’m also thinking about switching into S&P Global. And the different kinds of global indices tracked by ETFs About 18 months ago I started buying shares in global index provider MSCI. The average… Continue reading →

Monday Macro – Long term returns, Vol in 21 and Lithium

It really pays to have been in the right equity sectors over the last 25 years. Plus a deep dive into 2121 volatility for different asset classes. Oh and why Lithium is still a great bet. Last week I mentioned… Continue reading →

Weekly Links #1 plus Passive Funds won’t destroy efficient markets

Mind-expanding links and reading for the weekend Scary Russia Why Return on Equity is so dangerous Watch my new Video Interview Anyone for a Bad ETF So which countries had a bumper 2021? The annual Dang Wang Letter and why… Continue reading →

The Joys of rebalancing plus a bit of Brevan Howard exotica

SERVICE UPDATE Also a service update: over the next week or two I’m transitioning this newsletter over to SubStack. You may have heard of this platform – it’s much more cost-effective and flexible for bloggers and writers. It allows me… Continue reading →

Macro Monday on China & US rates

Happy new year !!! Apologies for the radio silence over the last few festive weeks but I’m sure my Adventurous readers had much more interesting stuff to read than my rantings over the last few days! SERVICE UPDATE Also a… Continue reading →

Some radical investing thoughts plus the carbon tax challenge

My column for Citywire this week is in part based on an interview with Liberum’s excellent strategist Joachim Klements. The column mainly concentrates on the arguments around mean reversion, value investing, and stagflation. But Joachim and I also talked about… Continue reading →

Reported from the frontline: The energy wall of cash is coming, cheap Charter and a digital infra ETF

A curious mixture of reports today from the funds frontline: the shale cash tsunami, an interesting value idea or two plus an excellent new thematic infra ETF Lets’ start with a familiar topic: US energy stocks. As I’ve said many… Continue reading →

Monday Macro – Pimco’s 2022 consensus forecast, growth traps, the yield spread as a guide and an average 1 minute on the web

It’s fast approaching that time of the year where we’ll get wall-to-wall end-of-year/beginning of year predictions. Pimco has been quick of the mark and has outlined what I think is probably a consensus view, namely broadly positive on equities, especially… Continue reading →

Climate change counter factuals

I’ve just finished reading Steven Koonin’s new book Unsettled: what climate science tells us, what it doesn’t and why it matters. It’s a worthwhile read but  I can see why many experts have criticised the book. Its core argument is… Continue reading →

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