The £19k cost of trying to time the market

“Buy low, sell high” – that’s every investor’s goal. However, it’s easier said than done. Especially if you’re trying to time the market, which is notoriously difficult, if not impossible. It can also be costly. Our research shows just how costly it can be when you get the timing wrong. Time in the market – … Continue reading “The £19k cost of trying to time the market”

Don’t lose your investment marbles in emerging markets

If one of your investments jumped 3,800% in less than a year how happy would you be? Ecstatic, probably. Now imagine how you would feel if 98% of these gains evaporated within a short few minutes. Utterly terrible, I’m sure. Well, that’s exactly what happened to shareholders in Hong Kong listed ArtGo last month  – … Continue reading “Don’t lose your investment marbles in emerging markets”

The six biggest bull runs since 1962 (and their corrections)

The current bull market in US stocks started in March 2009 at the height of the global financial crisis and is the longest in recent history, beating the rally between July 1962 and May 1970 by over four years. At the time of writing, the bull market is still going. US stocks are up more … Continue reading “The six biggest bull runs since 1962 (and their corrections)”

It really is a digital world

Over the last ten years of recovery from the boom and bust of the western banking crash, shares have performed well. World equities have produced a return of 155% over the decade. The years have been characterised in the advanced world by an unusual combination of low interest rates and low inflation. Cheap imports from … Continue reading “It really is a digital world”

Looking back at the markets through September

A selection of articles looking back through the markets last month. Global Market Review What next for Brexit? The long-running Brexit saga took a new twist in September as the clock continued to tick towards its Hallowe’en deadline. After being suspended earlier in the month, the UK Parliament was hastily reconvened towards the end of … Continue reading “Looking back at the markets through September”

A cyber-curtain is set to divide the world

A new Cold War looks likely as the US and China increasingly diverge and fall into dispute. What are the implications for investors? The strong exchanges on technology between the US and China point to a world where there are two different systems, with a cyber-curtain descending between them both. Meanwhile, in a series of … Continue reading “A cyber-curtain is set to divide the world”

A balanced view: Investors wake up to fundamentals

While markets of late have been dominated by positive returns across all asset class, 3 factors drove Equities down in August: US corporate reporting season highlighted the deteriorating health of the underlying business, provided an earnings recession. Trade wars continue to run – the longer they do, the more lasting and permanent the drag on … Continue reading “A balanced view: Investors wake up to fundamentals”

Looking back at the markets through July

A selection of articles looking back through the markets last month.   Global market review Possibility of “no deal” moves closer Boris Johnson beat Jeremy Hunt during July to become the new leader of the Conservative Party and the UK’s new Prime Minister. The new Government’s harder-line approach to Brexit – and the increased prospect … Continue reading “Looking back at the markets through July”

Illiquidity isn’t a dirty word…

In the past month, tales of unexpected illiquidity have hit the headlines, and investors are understandably concerned. With Mark Carney, Governor of the Bank of England, declaring investment funds have been “built on a lie”, and the media revealing that the FCA was aware of breaches at the now suspended Woodford fund for over a … Continue reading “Illiquidity isn’t a dirty word…”

What lies in store for equities?

The first half of 2019 was characterised by the strongest and most broad-based asset price reflation that we have seen since 2009. It is clear that this pace of gains cannot continue through the second half of the year. Bad news has been good news for stock markets for quite some time.  That’s because investors … Continue reading “What lies in store for equities?”

Are profits no longer required?

The number of loss-making companies listing on the US stock exchange is approaching a 30-year high, according to new research. Indeed, the average company going through an IPO is now making a loss (IPO stands for initial public offering, the term used when a private company goes public by listing on the stock market). Perhaps … Continue reading “Are profits no longer required?”

Looking back at the markets through May

Although the US and China had been widely expected to agree a trade deal, US President Donald Trump instead confounded hopes by announcing that tariffs on over US$200 billion-worth of imports from China would increase from 10% to 25%.  In response, China raised tariffs on US$60 billion-worth of US goods. Share prices fell heavily in … Continue reading “Looking back at the markets through May”

Three reasons why the UK stock market looks compelling

Whatever the opposite of a sweet spot is, many investors think UK equities are currently in one. With Brexit still unresolved, some have put the market in the “too difficult” basket. While it is understandable to fear uncertainty, as stock pickers we embrace the mis-priced opportunities created by it. The global nature of the market … Continue reading “Three reasons why the UK stock market looks compelling”

Looking back at the markets through April

Brextension Having delayed Brexit from 29 March to 12 April, Prime Minister Theresa May agreed a new Brexit deadline of 31 October with EU leaders. As well as drawing out the uncertainty that has intensified over the last few months, this decision also means that the UK will have to take part in European Parliamentary … Continue reading “Looking back at the markets through April”

Japan gets into party mood – how will markets respond?

Japan had been fighting deflation for years since the great crash of its banks and property market thirty years ago. An ageing population saves a lot. Population numbers are falling so GDP will not grow as quickly as in places like the US and UK where migration adds to the numbers. Companies are worried about … Continue reading “Japan gets into party mood – how will markets respond?”