Our Blogs

• 31Jul2017

  India vs China: big anniversaries

  31Jul2017

  Many of you will already know that Indian partition took place 70 years ago on 15th August. Less well known is that tomorrow (1st August) marks the 90th anniversary of the People’s Liberation Army in China.
  
  

  By Brian Dennehy

  Access Level | member

  Market commentary

• 28Jul2017

  What's Hot? What's Not? Emerging markets motor, Woodford wilts [Fund Edition]

  28Jul2017

  You had to take risks to make money in the last month – but you did well if you did (from emerging markets, commodities and smaller companies. In contrast, some very sensible looking funds, and the big daddy of fund managers, were disappointing (bonds, Woodford, gold, absolute return).

  By Brian Dennehy

  Access Level | public

  What's Hot What's Not

• 28Jul2017

  Robots and the Middling Revolution (Part II)

  28Jul2017

  In Part 1 we looked at how the march of technology creates challenges but also opportunities. This week we take a closer look at the opportunities for both growth and income investors, derived from the booming Asian middle classes and also funds packed with potential and focussed on technology – though not ones you might expect!

  By Brian Dennehy

  Access Level | public

  Portfolio building

• 28Jul2017

  Guest blog: Ask the FT

  28Jul2017

  Here is a very pithy guest blog from the delightful Tim Price, author of "Investing through the Looking Glass: a rational guide to irrational financial markets". Tim is always worth reading.

  By

  Access Level | member

  Market commentary

• 21Jul2017

  Robots and the Middling Revolution (Part I)

  21Jul2017

  The march of technology continues and this will create a challenging environment for some given the pace of change. More positively, as productivity is transformed in many industries, opportunities for both growth and income investors will not just persist but grow over time, if you know where to look. Here we explore the links between China and Donald Trump and the rise of robots, the Belt and Road initiative and The Asian Dream.

  By Brian Dennehy

  Access Level | public

  Market commentary

• 21Jul2017

  Boom Bubble Bust: Part III - The Essential Irrationality

  21Jul2017

  Last week I ended Part II by asking is the ETF buying irrational? And even if it is, is there scale to this behaviour which marks it out as a market bubble rather than just bizarre action at the margin?
  
  Here I explore the rationality of passive investing with the help of the insightful Dalbar Study and the Financial Times.

  By Brian Dennehy

  Access Level | public

  Market commentary

• 21Jul2017

  Are commodities due a bounce?

  21Jul2017

  Last week we asked “Worth a punt in gold or commodities?”. Perhaps we were unfair on commodities, as longer term analysis suggests it is more than a short term punt, in particular as commodity prices tend to move in quite large waves. For long term investors commodity funds look cheap.

  By Brian Dennehy

  Access Level | public

  Market commentary

• 14Jul2017

  Trade of the Decade: Part 2 (Japan)

  14Jul2017

  We like to focus on the returns investors can achieve if they look beyond the short-term noise. Back in 2010 we set out two ‘Trade of the Decade’ ideas. Here is an update on the second of those: Japanese Smaller Companies. It has been a great success and we believe there is much more to come.

  By Brian Dennehy

  Access Level | public

  Market commentary

• 13Jul2017

  Boom Bubble Bust: Part II - The ETF Mania

  13Jul2017

  Last week, in part 1, we looked at past bubbles, and noted that a key ingredient in the euphoric bubble stage is some form of extreme, irrational, investment behaviour. Is there such evidence now? Is there a “mass escape from reality”, as JK Galbraith put it?
  
  
  

  By Brian Dennehy

  Access Level | public

  Market commentary

• 13Jul2017

  Worth a Punt in Gold or Commodities?

  13Jul2017

  Commodities as a whole have been in a hole for more than a decade. And gold is at one of those (bargain basement?) levels again where a sharp rise would not be out of character. Worth a punt? Can we repeat the huge profits of 2016?

  By Brian Dennehy

  Access Level | public

  Market commentary

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