The Adventurous Investor

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

Author

David Stevenson

On IPOs and the Saudi’s

One of the most interesting stories of recent years is the slow but steady decline in the quality – and quantity – of IPOs on the European markets. Looking at the numbers for the third quarter of 2019, across Europe… Continue reading →

Monday Macro – Value surges and the real problem with Trump

Markets seem to be in decent shape – apparently, the MSCI World Developed has finally beaten its January 2018 high following a rise of 0.7% last week and a 6.8% gain over the last month. This, so far, confirms my… Continue reading →

Still cruising on the late stretch of a bull market…pity about earnings

Overall in investment terms, I’m still cautiously optimistic though I would emphasize that word cautiously. I currently don’t see any obvious immediate drivers pointing towards a sharp slowdown. My default hunch is that we are – as I have said… Continue reading →

General Election Musings

We simply can’t avoid it anymore – let’s address the concept of political risk, and specifically the imminent general election (groan). Overall, I have grown increasingly cynical about the impact of politics on markets – many of us got Trump’s… Continue reading →

Monday Macro – Long China Banks?

Interesting paper out last from the cross assets Asia team at SocGen. It looks at the Chinese banks and argues, not unpersuasively, that all the concerns are overdone. And what might those concerns be? The first chart below I think… Continue reading →

More fund thoughts: on plane leasing and biomedical VC

Two interesting but very different stories from the closed-end fund universe here in London this week. The first concerns aircraft leasing. There’s currently a bevy of specialist funds on the London market involved with leasing out mostly large (A380s) planes… Continue reading →

Fund Musings: Buying into Draper and Whiskey

I’ve recently started adding a venture capital investor to my portfolio – Draper Esprit. I completely understand why many investors would think I’m crazy. We are late in the cycle and many tech businesses are insanely valued. But I’m moving… Continue reading →

Monday Macro – The coming Decarbonisation Battle plus some practical Investment Ideas

You may have noticed that outside the Brexit bubble things are moving on the whole Climate Change/Green New Deal agenda. Lizzie Warren looks likely to face off with old Donald and I have no doubt that green politics will be… Continue reading →

Watch out for the Biochemicals revolution

One of my big long term obsessions is the profound changes needed in a global economy which is swiftly decarbonizing. We rightly obsess about the obvious areas of contention such as transport and power generation but the cascading impacts across… Continue reading →

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