We do, finally, seem to be edging towards some kind of initial resolution as regards Brexit. As I’ve long maintained, the answer always was some kind of negotiated settlement that would look, smell and feel a great deal like the… Continue reading →
The most striking structural issue facing investors at the moment is the low growth rate of the Eurozone. Both China and the US seem fairly resilient in their own very distinct ways, but Europe seems mired in deflation and really… Continue reading →
Many years ago, I had the enormous pleasure to spend an afternoon with Jack Bogle founder of Vanguard, at their Malvern office campus on the East coast in Pennsylvania. Bogle was one of a dying breed even a few years… Continue reading →
Equity markets have had a decent start to the autumn. In September overall markets finished up for the month, with MSCI World up 1.9% (in US$) and just about in the black for Q3, with a 0.1% gain. The year-to-date… Continue reading →
A few months ago I ran into a leading American investor who’d made a killing out of investing in (smaller) US banks. He’d made money – big profits – for at least the five years and was still enthusiastic about… Continue reading →
Indian equities have had a torrid time in recent months. Investors have recently started to sour on Indian PM Modi, worried that he’s rather more interested in staying in power as a Hindu nationalist rather than rule as a wise,… Continue reading →
We’re slowly getting a more realistic perspective on valuations at Patient Capital Trust. We’ve had a slew of writedowns and the board has indicated that they’ve run a full valuation review of the top 20 holdings. The shares are currently… Continue reading →
My suspicion is that if you were looking for a central consensus position on most things’ macro-based at the moment, you couldn’t get a more mainstream institution than Pimco. Its focus is on bonds, but its views are widely respected… Continue reading →
Just finished reading a really very interesting report from early September by the equities team at Morgan Stanley in Europe. The report – “Macro Meets Micro: Private Equity Returns to Europe” – paints a very compelling picture of unprecedented levels… Continue reading →
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