Is the bull market long in the tooth?

The current global economic expansion or cycle has been going for just over nine years since the global financial crisis. Equities keep on rising and seem to shake off bad news. It is the second longest bull market in US history since records began in 1850. Next year it will become the longest. So is it long in the tooth …

Second quarter rally – Is the pesky blonde girl back ?

In the last investment blog I reported that global stock markets retreated in the first quarter of 2018. How things change! Half way through the second quarter there has been a marked improvement in investor sentiment and stock returns. The FTSE 100 index for example closed yesterday at 7,711, a significant recovery from its March 26th low of 6,889 and …

Dark Clouds Looming over the Bears’ House

For much of 2017 and the beginning of 2018, various commentators pointed to a Goldilocks economy, one that is not too hot nor not too cold. It has been characterised by synchronised economic growth around the world, with muted inflation and supportive central bank policy. It was also a period of rising stock markets and unprecedented low volatility. It proved …

Lions, £50 Notes, Bitcoins and the Yield Curve

I came away from a lunchtime investment seminar in Brighton on Thursday with lots of thoughts, a pack of fund brochures and a cuddly toy – a lion. No surprise perhaps since the company hosting the event was Liontrust Asset Management. They are a relatively small independent and respected fund manager with strong investment returns. Presenting was head of multi …

Investment Intelligence

I regularly attend investment seminars for IFAs run by Invesco Perpetual called “Investment Intelligence.” In a presentation last week the speaker reviewed the global economy and markets and addressed the issue of the US Federal Reserve unwinding its Quantitative Easing or QE programme. As you are aware central banks in the USA, UK, EU and Japan have undertaken considerable asset …

Eeyore Gets Onto The Dance Floor

Following a house and home office move just over a month ago I am slowly surfacing from the many distractions and I am starting to think about investment again. The equity sell-off I expected hasn’t materialised and so it was with interest I read an upbeat assessment for global and UK equities in a trade magazine by Trevor Greetham of …

Barometer of the Global Economy & Eeyore’s Favourite Food

Over Easter I read an excellent article written by Pictet Asset Management. This boutique investment house run a number of specialist funds such as the Pictet Water and Pictet Clean Energy but also manage a very good multi-asset portfolio that I have recommended to a number of clients. Pictet are strong advocates of the view that getting the asset allocation …

Have Your Investments Been Trumped?

Probably not or not yet! I have never received so many invitations to hastily arranged webinars by investment companies as I did on Wednesday morning after the US presidential election. In addition I was also bombarded by numerous commentaries and opinions by fund managers. So what are my thoughts on how a Trump presidency will impact the global economy and …

Word on the Street

As I have gone about my business in the last month or so I have been picking up a consistent consensus view from fund managers. The figurative word on the street is that the global equity sell-off at the start of the year was an over-reaction, something which I thought at the time. Investor sentiment is clearly more volatile than …

A View of the Global Economy

I recently sat an online training module offered by Invesco Perpetual on the outlook for the global economy. It was a thorough and interesting analysis and I thought you may benefit from various observations I gleaned as you think about your own investments. Chief Economist, John Greenwood, who I have previously referred to as the sage of Henley re-iterated his …