15 December 2017 Looking into 2018, one is is reminded of the old stock market admonition that "bulls make money and bears make money, but pigs are slaughtered". In other words, let's not be greedy: the returns of the past year are highly unlikely to be repeated. In an effort to free up your time [...]
22 October 2017 Investors appear convinced that stimulative G-7 monetary policies lie behind the markets’ record-setting performance. To be sure, that was the case between 2009 and 2015. During the past three years, however, I believe the impact of monetary policy has been quite neutral, the key driver of markets more recently has shifted from [...]
3 September 2017 Welcome to the launch of what will be a regular strategy review. Macro-themes have dominated market moves, especially following the Brexit referendum and the US and French elections. With the Trump Presidency entering a potentially decisive six months, I believe this will remain true during the year ahead. I am a believer [...]
23 March 2017 At long last, after a long campaign, referendum vote, and legal challenges, the Brexit negotiations can officially begin. Of the many important issues confronting the markets will be how the Bank of England navigates monetary policy through these uncertain times. This is especially true as the last CPI release saw inflation breaching [...]