Newsletters
Quarterly Newsletter - Winter 2015
In the January editions of our quarterly Newsletters, we usually cast a backward glance at the preceding year’s stock market performance. After a short-lived sell-off last spring, most global equity markets resumed their upward trend whilst largely ignoring a number of potential problems such as the Russian annexation of Crimea in the Ukraine, resulting sanctions against Russia, the ISIS situation...read more
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Quarterly Newsletter - Autumn 2014
The message of impending doom that may have pervaded the last issue of our Newsletter might have seemed somewhat misplaced against the backdrop of generally benign markets and broadly coordinated policy approaches across the globe. We warned at the time of undue complacency and the apparent acceptance of risk. Indeed, we argued that the ‘new normal’ was distinctly abnormal.Since writing that Newsl...read more
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Quarterly Newsletter - Summer 2014
Thus far, it has been a strange year in the markets. For a short while, it seemed as if the positive returns of 2013 were simply going to continue and, by mid-February, the S&P 500 in America was at an all-time high. However, there were already signs that markets were becoming nervous about the rapid rise of prices in the technology and biotech sectors whilst a few commentators were also becom...read more
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Quarterly Newsletter - Spring 2014
After last year’s see-saw stock market performance – better than expected results for the developed economies, but worse for emerging markets and commodities, in particular gold – stock markets have proved rather lacklustre in the first quarter of 2014.In a nutshell: indices like the Dow Jones, S&P 500, FTSE 100 and Eurostoxx 50 have scarcely moved more than a couple of percentage points in ei...read more
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