141 insights found
03 April 2020
A view from the markets – Cash-flow
This is a locked-down musing on the impact that disrupted cash-flows have on different asset classes. While government revenue is undercut by the recession, government can still fund itself and repay ...
27 March 2020
Denial, panic, hope.
We are passing through stages of a global social and economic disaster. The denial of February quickly became the panic of March. Now markets are responding to the massive policy response.
20 March 2020
As we all isolate and get used to home video conferences and virtual lunches, there is much to reflect on.
13 March 2020
A view from the markets – Looking for the turn
It is hard to be optimistic when the news is so bad. The virus spread is exponential and market declines are massive. Governments are having to impose emergency powers to deal with the health crisis ...
06 March 2020
Global / Local
There are more and more tensions between a “global” economic model and a “local” one. Politics has shifted towards the local and the emergence of the COVID-19 virus has exacerbated it.
28 February 2020
To paraphrase The Smiths, “I would go out tonight, but I haven’t got a mask to wear”. The unfolding economic crisis is the result of people staying home, not travelling or going to work either becaus ...
14 February 2020
Love and life
The natural world is something that we can’t always control. Extreme weather and epidemics are now real threats to the functioning of society and economies. Up front is the coronavirus and its impact ...
07 February 2020
Can you rely on bonds?
The nirvana of long-term investing is high returns and low volatility. In core markets, higher returns come from equities, driven by economic growth.
31 January 2020
The opportunity set
Investors are rightly concerned about the coronavirus. We don’t have the ability to judge how long the epidemic will last and how bad it will get.