It is now three years since Britain voted to leave the EU (in case anyone needed reminding). We are all aware of never-ending twists and turns in this saga, even if we are none the wiser as to the final conclusion. But, we ask, with the benefit of hindsight, how… Read the article
Last month Joe Wiggins noted that fund managers frequently claim to make money by exploiting the ‘behavioural biases of other investors,’ but are often unable to explain how they avoid falling victim to these biases themselves.
Now it could be that ‘exploiting behavioural bias’ is simply… Read the article
The quest for uncorrelated returns can be an expensive pursuit, especially in terms of opportunity cost.
The rise and fall in popularity of absolute return funds is a case in point. For years, the Targeted Absolute Return sector was among the most popular among UK and European fund buyers, but… Read the article
This certainly seems to have been the case for bulk of… Read the article
As Theresa May remarked in her resignation speech, her successor will face the same challenge of finding consensus over Brexit within Parliament. So far Westminster has been able only to express what it doesn’t want, and has failed to coalesce around a way forward. The path ahead remains as uncertain… Read the article
It is often easier to conceptualise ESG considerations when making investments at a corporate level. A company’s activities are often relatively narrow in focus, and forming a direct link between the company and those activities that we don’t support (polluting, gambling, smoking, drinking and so on) or those that we… Read the article
While markets were closed in Japan, Korea, Thailand and the UK yesterday, stock markets in other regions ‘plunged’ (there’s that word again) on a re-emergence of trade war fears.
Domestic Chinese markets were the hardest hit, with some impact on neighbouring countries.
The source… Read the article
In 2018, almost all major asset class categories delivered negative returns:
So far in 2019, almost all major assets have done the opposite:
Our sense at the end of 2018 was that the volatility being seen in markets at that time was episodic in nature. Yes, there were things to be worried about from a growth standpoint, but the rapidity and nature of price moves suggested that… Read the article
Earlier this week the IMF released its latest economic outlook. It was the debut of the newly appointed and first female IMF chief economist, Gita Gopinath.
She observed that “While global growth in 2018 remained close to post crisis highs, the global expansion is weakening”. Indeed, the… Read the article