Market commentary: September 2013
SUMMARY. Beware the tendency to optimism.We fail to see a crisis in advance, but when we look back it falls into the “bleeding obvious” category. Here we consider how this manifests itself now, and how [...]
Market commentary: July 2013
SUMMARY. June was an uncomfortable month for markets. The US central bank announced it would begin reducing money printing one day (hardly contreversial) and confidence was badly shaken. Here we consider the issue of confidence, [...]
Market commentary: May 2013
SUMMARY. Should you “sell in May?”. We shouldn’t be surprised by another series of stock market falls as complacency turns into crisis – just as in 2010, 2011, and 2012. And while Europe truns against [...]
Market commentary: April 2013
SUMMARY. The European authorities have taken their level of incompetence to new levels over the last fortnight. Cyprus is not unique, and savers in UK banks should be wary. P.S. If you haven't been in [...]
Market commentary: March 2013
SUMMARY. As if there wasn't enough complexity already, new features emerge. Currency wars, which could just be profitable for investors. And voters beginning to take charge of the asylum - which is dangerous. P.S. If [...]
Market commentary: Jan/Feb 2013
SUMMARY. This time last year we said the key investor skill in 2012 could be a handbrake turn. Whether or not that point arose in the Summer, when Mario Draghi promised to do "whatever it [...]
Market commentary: December 2012
SUMMARY Markets have effectively been rigged this year, and this is likely to continue. Rather than let this upset us, we'll deal with the hand we have been given, and work to understand how best to work [...]
Market commentary: October 2012
SUMMARY. This month is the 25th anniversary of The Crash in 1987. We consider what we learnt back then, how it helps us today, and where the markets are poised right now. This month is [...]
Market commentary: August 2012
SUMMARY. Problems with Greece, Spain, even Italy, are out in the open. It is the problem just out of sight which is most worrying - the lion in the long grass. This is France. Last [...]
Market commentary July 2012
SUMMARY. With bankers in disgrace, and central bankers fearful of a new crisis, will Churchill-style leadership be provided by an Italian comedian? You couldn't make this up. P.S. the latest TopFunds Guide is now available, [...]