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Contrarian Quality

Contrarian Quality

Last week, I highlighted the Quality comeback. The downward pressure on interest rate sensitive investments would ease, and opportunities would arise. In recent issues, I have added low-priced equity exposure via investment trusts and investment companies in Soda, and low-priced quality companies in Whisky. The regime shift in the Money

Equities

Equities

Flash Note; The market reaction in both the UK and US to the lower inflation data is notable, and I believe we should increase equity exposure. As always in a flash note, I will give more information next Tuesday.

Focus on Quality

Focus on Quality

Trades in Whisky and Soda; With financial markets stabilizing, I am adding two new investments to the portfolios. It is important to note that the bond market seems less stressed now that the rates have likely peaked, and it is right to boost exposure in areas offering good value. The

Peak Rates and the Yen

Peak Rates and the Yen

Trade in Soda; Last week, the central banks signalled that the interest rates have peaked. That doesn’t mean we are off to the races, but it removes an obstacle, especially for bonds. We have also made it through to November, which means the crisis season is potentially behind us.

Market Dislikes the Long-Term

Market Dislikes the Long-Term

We live in an era of divergences, and the collapse of the bond market is behind it. Perhaps not just that, but the high asset prices and excessive borrowing that came with an era of low rates. The reversal was always going to be painful; we just didn’t know

Equity Momentum Wanes

Equity Momentum Wanes

With bonds in crisis mode, this is a good time to revisit market momentum and look at the state of equities. This time last year, I wrote about the momentum crash, which would potentially end this bear market. We had a situation where the worst-performing stocks, the losers, were heavily

Be Wary of Undervalued Investment Trusts

Be Wary of Undervalued Investment Trusts

I want to remind you what we are waiting for, especially in the Soda Portfolio. There are dozens of investment trusts (and closed-ended funds), some quite large and liquid, which offer compelling value. This is a follow-up to my last piece, but it has been right to hold back because