On the surface, markets appear to have been uneventful in July, with few sizeable moves over the month - the S&P 500 index was up 1.2%, MSCI World index of developed markets +1.8%, emerging markets +0.3%, and US Treasuries +2.1%. The most notable moves were in currencies, with the yen
The Chinese consumer, once a major driving force behind global luxury sales, is currently showing signs of weakness. This slowdown is influencing the broader economic landscape and the decline in consumer spending is having a huge impact on the luxury sector. Despite the current challenges, the long-term growth potential for
Interest rates profoundly affect world economies and our personal finances. Monthly mortgage payments, for many their largest single financial commitment, are dependent on either short-term interest rates, set by central banks, or government bond yields (or in bond jargon ‘swap’ rates, which are closely linked to government bond yields). Download
In the world of fund selection, picking funds is a blend of science and art. Every investor prioritises their research differently, but the most common framework involves the 4 P’s: philosophy, process, people, and performance. Unlike the marketing mix of product, price, place, and promotion, this framework helps in assessing
Falling property prices and rising construction costs isn’t a dynamic that can continue indefinitely. The squeeze on developers’ margins makes construction less and less profitable. When prices eventually fall below replacement cost (marginal price < marginal cost), there is clearly no incentive for developers to increase supply. Download PDF
On Saturday an unassuming 20-year-old opened fire at a Trump rally, the picture of Donald Trump with his fist pumped, blood on his face, surrounded by the Secret Service, will become an historic image. Trump literally dodged a bullet – ‘God alone’ saved him – and the looming US election
Roger Federer, one of the most esteemed tennis players of all time, had a career spanning over 20 years, winning 20 Grand Slam titles and earning $1.1 billion, despite winning only 53% of individual points. This analogy underscores that consistent, repeatable decision-making, rather than occasional big wins, is crucial in
As the UK goes to the ballot box on Thursday 4 July for the first time in nearly five years, if the pollsters are correct the result seems almost like a foregone conclusion with a Labour Government set to end a 14-year Conservative (Tory) Party run. Download PDF
One of the most attractive areas in terms of valuation is that of investment trusts. We use investment trusts extensively across the portfolios such as Momentum Diversified Growth Fund (MDGF) and Momentum Diversified Income Fund (MDIF); where the income generation from trusts is crucial. Download PDF