weekly-roundup

In this quarterly update, I shall review the Soda and Whisky Portfolios alongside Venture, our deep-value research service. ByteTree offers active investment management research. Active, as opposed to passive or index-tracking, means active management delivers an outcome that will often differ from the market, either better or worse. Over the

Not only did the Federal Reserve cut interest rates last week, but on Tuesday, the Chinese launched a bazooka of the financial kind. They pledged to cut rates by 0.5% and potentially another 0.25%to 0.5% later in the year. There was also a 0.5% cut

This week saw interest rates fall, and the hope is that this preemptive 0.5% cut from the Fed will thwart a recession. This is the start of a cutting cycle, which is likely to continue with rates below 3% by the end of next year. At least that is

$100 invested in gold in 1994 is today worth $652, a $552 profit. Yet that same $100 invested into the gold miners is worth a mere $118. Many have pondered over this disappointing situation, wondering what the mining industry has been doing during this great bull market in gold. Gold

The smart crowd will tell you that the gold miners are risky businesses and that the royalty companies, which are lenders with the first claim on gold production, are much better businesses. That is true because having the first claim on production is a position of privilege that gets fed

I haven’t mentioned last week’s flash crash or the yen, mainly because ByteTree clients have heard enough. More to the point, they are long Gold and the Yen and therefore had a cushion of sorts in the recent malaise. Yet one key reason that the crash came to