Market Thinking

making sense of the narrative

Those Green Jobs…Bastiat had it right

One of the mantras from Politicians of all persuasions about the Build Back Better campaign is that in addition to ‘saving the planet’ it is going to provide ‘thousands of Green Jobs’. Without wishing to sound churlish, a job is Read more…


Where are the Customers’ jets?

We have been talking about Private Equity since the early days of this blog, but more recently here and here, where we asked an update to the famous Fred Schwed question “Where are all the (Private Equity) Customers’ Private jets? Read more…


Market Thinking June

While there was an initial attempt at Sell in May and Go Away, as far as equities were concerned the selling by leveraged retail traders was largely countered by buying on the dips for quality stocks from longer term investors. Read more…


A NICE future for Uranium

With the G7 meeting in the UK coming up next week with a focus entirely on ‘Carbon’ and politicians everywhere seeking to out-compete one another to be ‘greener than thou’ it is probably no coincidence that this week, Bill Gates Read more…


Why Savings are like Autos

I am delighted to be working with Lawrence Lever and his team over at CityWire in a series of fortnightly pieces on Thematic Investing under the moniker of Market Thinker (a bit of nominative determinism there). The following is by Read more…


The inflationary consequences of Zero..

Hot on the heels of our new Thematic slot at CitiWire, we were asked to do one of our semi regular pieces this weekend for the highly regarded Australian publication AFR. Below we reproduce the draft sent in as the Read more…


THG life..

After, yet another, glossy puff piece in the Times about ‘Buff Billionaire’ Matt Moulding of THG, I posted a comment suggesting that they should consider tagging it as Advertorial. I got a few likes and replies before the comment was Read more…


Your Currency, Our Problem

It looks like the ‘don’t trust the dollar’ crowd have switched from Crypto to Gold, which is going up as the others go down., but there are other forces at play. Crypto is a challenge to both monetary and fiscal Read more…


Bread and Circuses

There is a meaningful risk emerging that the quiescence of the public so far in response to lockdown is going to erupt into civil unrest over the summer as the bread and circuses employed so far are no longer enough Read more…


Long Short Duration and Short Long Duration

Equity Markets recovered at the end of last week in what looked like a classic ‘buy the dips’ bounce as medium and long term investors moved in to take advantage of some deleveraging and forced selling by the short term Read more…