The Adventurous Investor

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


David Stevenson

Fear the LLL – Lax Leveraged Lending standards

You may just have noticed that the global debt crisis has not abated since the global financial crisis. In fact, we are still knee deep in unprecedented levels of debt. You may also have heard that the covenants surrounding many… Continue reading →

Monday Macro – Sagging earnings/surging dividends

This week we have another mixed bag of macro signals. Let’s start with some bad news – sagging earnings growth in Europe. Analysts at Morgan Stanley have just out a flash note at the beginning of the third quarter. The… Continue reading →

Cuba and Catastrophic catastrophes

It now seems that the turbulence of the last few weeks hasn’t resulted in the IPO pipeline for investment trusts closing down. The Smithson fund has broken all records and raised over £800m, surpassing Patient Capital to be the biggest… Continue reading →

New retail bond – shared ownership provider offers inflation backed return

There’s a really nice retail bond doing the rounds at the moment which I think is definitely worth a closer look. My hunch is that it might go quickly but if you can jump on board in the placing, I… Continue reading →

Macro Monday: normal service resumed

It feels like the panic selling of last week has finally stopped and we may about to resume normal service. As I’ve said consistently in this blog I can’t quite understand the cause of the recent sell-off. I can heartily… Continue reading →

Investors panic – what next?

Is this the really big one? Is the US bull market finally at an end? As I write these words the S&P 500 is now down 3.54% over the last month, at 2785. Crucially, for all you technically minded investors,… Continue reading →

They keep on coming…the fund IPO pipeline – half time report!

We’re now midway through the Autumn IPO push and we’ve already seen a few IPOs get away – Mark Mobius’ new fund managed to raise £100m even though emerging markets are having a tough time. A few fund issues have… Continue reading →

We’re all doomed…and the coming carbon crunch

We have 12 years left to fix our global economy and contain global warming. Or at least that’s the conclusion the Guardian comes to about the latest IPCC report. If that is the case I can confidently say that we… Continue reading →

Surging bond yields and why the heavens may not be crashing in (yet)

Apologies for the radio silence last week – slightly bonkers week. Many thanks to those who attended the AltFi Digital Wealth Forum which was a great success. The yield of ten-year US government bonds is often used as a totem… Continue reading →

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