Numbers can only tell you so much

Numbers can only tell you so much

‘A good decision is based on knowledge and not on numbers’ – Plato A few days ago, a friend of mine making their way in the investment industry, asked for some advice about a job opportunity, where a company picking their investments via mathematical methods,...
Two exits, five adds and a caffeine high!

Two exits, five adds and a caffeine high!

‘Widespread caffeine use explains a lot about the twentieth century’ – Greg Egan Back to school this week and so time for a little portfolio cleaning…which is the hardest part of investment management by far.  The reason for this is quite clear: because...
Thinking time

Thinking time

‘Thinking: the talking of the soul with itself’ – Plato Last week we referred to three T’s: Turkey, Tesla and turmoil.  Few of the issues around these three factors have gone away, but I would expect these three T’s collectively to make far fewer headlines over...
The three Ts: Turkey, Tesla… and turmoil

The three Ts: Turkey, Tesla… and turmoil

‘The best thinking has been done in solitude. The worst has been done in turmoil’ – Thomas A. Edison Mention of ‘Turkey’ in the summer is typically centred around a summer holiday or some unseasonal longing for a Christmas meal.  In the last week or so, however,...
Why I never go on holiday in August

Why I never go on holiday in August

‘To many, Heathrow in August is a paradigm of Hell’ – Paul Johnson I admit it, I am bad at taking holidays.  A few quiet hours here or a sly afternoon away from the laptop there feels much more refreshing than the forced jollity of two weeks away from the...
The changing market

The changing market

‘There is nothing permanent except change’ – Heraclitus It really is quite something for a single company to lose a cool US$100 billion of market capitalisation in a single day…but social media behemoth Facebook managed this last Thursday. So what caused...