Market Thinking

making sense of the narrative

Headline numbers hide the hits

The first few weeks of January have been as ‘bad’ as December was ‘good’, but much of this is a confusion between the headline numbers dominated by the megacaps and the reality beneath the surface, which is one of considerable Read more…


January Market Thinking

Traditionally, Year Ahead pieces tend to take the form of a laundry list of predictions about ‘key market variables’, alongside some narrative to support why these might be slightly above, or slightly below, the consensus. Sometimes, the predictions are deliberately Read more…


A Proposed Solution..

As the title implies, this is now the last in a short series of posts that addresses four important and inter-related problems with Wealth Management and by extension Asset Management and in this conclusion offers a Solution. In previous posts Read more…


The problem for Balanced Funds

This is the fourth in a short series of posts which address four important and inter-related problems with Wealth Management and by extension Asset Management and in conclusion offers a Solution. In a sense, this fourth problem is actually our Read more…


The Problem for Stock Picking

This is the third in a short series of posts which addresses four important and inter-related problems with Wealth Management and by extension Asset Management and in conclusion offers a Solution. The Problem for Stock Pickers/Active Equities is that in Read more…


The Problem with Passive Equities

This is the second in a short series of posts which, as the title implies, address four important and inter-related problems for Wealth Management and, by extension, Asset Management and in conclusion offers a Solution. In the first of this Read more…


The Real Problem with Bonds

As the title implies, this short series of posts addresses four important and inter-related problems with Wealth Management and by extension Asset Management and in conclusion offers a Solution. The article in the FT (Global bond markets on course for Read more…


Christmas past..and present

We are spending the days running up to Christmas writing a series of upcoming posts about some of the key structural problems facing Asset management and by extension Wealth Management, to be followed early in the New Year with our Read more…


The lamps are going out..

Two of the main drivers to low inflation over the last decade – cheap exports from China and low energy prices from Russia – are both disappearing, meaning at the very least a reset higher in the overall price level. Read more…


Australian Financial Review

The following is a short article written for the Australian Financial Review summing up the current situation in markets. https://www.afr.com/markets/equity-markets/long-term-investors-need-to-look-through-short-term-confusion-20211212-p59gur Opinion Long-term investors need to look through short-term confusion Mark TinkerDec 12, 2021 – 11.49amSaveShare Long-term investors could be forgiven Read more…