Investment Commentary
This is where we will keep you up to date with the views of our Independent Investment Committee.
-
The Biggest Company The Club Won’t Let In
In 2017 a photo-sharing app called Snap went public selling shares that came with no votes whatsoever. You could buy in, own your sliver of the company, and have precisely no say in how…
-
War, What War?
If you had been reading the news and had paid no attention to financial markets over the course of the first three months of the year, you would most likely expect that stock markets…
-
Why Investors Shouldn’t Care About War
I read commentary this week from my favourite political analyst Ian Dunt. He is a brilliant writer, author and commentator on UK politics; blunt, sweary and honest. In his piece he was articulating his…
-
2025 Investment Year in Review
Global equities had another stellar year, returning 14% across 2025 in GBP terms as measured by the MSCI ACWI index. Given where we were after Trump’s ‘Liberation Day’ in April this is quite the…
-
What is Happening With Gold And Have We Forgotten The Lesson of King Midas?
The S&P500 index of leading American shares grew faster than the price of gold for four years until 2025. That was a good year for US shares but an extraordinary one for the gold…
-
What Benchmark is My Wealth Manager Using?
We have seen a wide range of benchmarks being used by other wealth managers over the years. From credible to ridiculous but none of them perfect. Benchmarks are important because no client can really…
-
Are You Missing Out on The Best Companies in The World?
We have started to receive questions from clients about whether their portfolios are over exposed to a handful of US listed companies. This understandable as there has been so much written in the financial…
-
Q3 Investment Update – AI Bubble?
One of the joys of writing market commentaries is that the markets will often make you look like a fool as soon as you press go. That is why we have always recommended ignoring…
-
What Sector Has a 90% Failure Rate and Still Makes Profits?
The Investment Management industry is a behemoth, a multi-trillion dollar industry. Active investment managers still dominate their lower-cost passive peers in terms of their percentage share of this money. Due to their substantially higher…
-
What Have Our Client’s Taught Us About Custom Indexing?
We have been offering Custom Indexing as an option to some of our clients for a year now. Custom Indexing allows us to tailor a portfolio to an individual’s needs and preferences, right down…