The hare, the tortoise and today’s stock markets

The hare, the tortoise and today’s stock markets

‘The Tortoise heard his taunting jeer…But still resolv’d to persevere’ – Robert Lloyd As January draws towards a close there is only one conclusion you can draw about global equity markets: they have had a super strong start to 2018. Actually the...
IMF economists are as optimistic as usual

IMF economists are as optimistic as usual

The IMF top brass do get invited to Davos as it is their sort of thing and they even time publication of the first Economic Outlook of each year to coincide with it. Figure 1 is an abstract from the summary table and clearly shows the IMF economics team are not...
Wheeling the Oils

Wheeling the Oils

Brent Crude has risen by over 40% in the last six months and is flirting with $70 a barrel while WTI is keeping up with it. Much fuss has been made of the OPEC-Russia production pact but the real driver appears yet again to be financial investors. Figure 4 shows the...
Our current favourite investment themes

Our current favourite investment themes

‘If there were only one truth, you couldn’t paint a hundred canvases on the same theme’ – Pablo Picasso One of the big challenges with putting together an investment portfolio is the sheer choice out there of consitituents – even worse when (like...