Newsletters
Quarterly Newsletter - Summer 2016
Since the press and all other media – including the rather questionable social media – have exposed us to wall-to-wall coverage of the EU referendum, you may well be fed up with reading more about it. Therefore, we will keep our comments very brief. Nevertheless, events during the lead-up to the referendum on 23 June as well as over the last month since the UK made the momentous decision to leave ...read more
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Quarterly Newsletter - Spring 2016
As we indicated in the December issue of our Quarterly Newsletter, the markets were beginning to become obsessed with a wealth of negative news flow just as, in the previous quarter, they had been overly optimistic. Steering a path between such conflicting emotions can require resolve and, if possible, a dispassionate reading of the financial headlines. Thus, when it was reported that China had ex...read more
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Quarterly Newsletter - Winter 2016
TV, radio and the press all tell us that stock markets are having the worst start to a year for 16 years, referring to the year 2000 when the dot-com bubble burst. This time, however, and ignoring the bubble in the property market, there is no evidence of a bubble as such in the equity markets. True, valuations have been somewhat stretched for some time, something we have repeatedly said in our pr...read more
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Quarterly Newsletter - Autumn 2015
When the World Bank – an international financial institution whose official goal is the reduction of poverty, mainly through the provision of capital to developing countries – met in January and warned of an impending slowdown in global growth, it listed four headwinds that would contribute to a slowdown. The problems they identified were weakening global trade, market volatility induced by intere...read more
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