A few months ago my colleague, Sam Ford, explored the magic of compounding in his excellent blog: The Greatest Shortcoming of the Human Race. In this post, I’d like to flip his ‘Power of Compounding’ on its head and explore ‘The Dangers of Discounting’.
The most conventional approach… Read the article
Stock correlations are now at their lowest level since the GFC in 2008, prompting a seismic change in the investor landscape and a more favourable, less constrained market backdrop for stock pickers. Until last year, there were long periods of high correlation – challenging for both active managers and anyone… Read the article
In the aftermath of the Brexit vote, UK interest rates and bond yields fell to their lowest levels since records began in 1694! This was mirrored by global yields and appeared to trigger a sea-change in monetary policy guidance and inflation expectations. Is this the end of the 35-year ‘bond… Read the article