making sense of the narrative
April 28, 2021
An under-rated risk for western economies is that in pushing back against the centralisation of state power under the Health Crisis, voters will unintentionally now allow an even greater grab of power by different parts of the state under the Read more…
March 26, 2021
We have noted on many occasions the seemingly unstoppable trend towards a ‘green’ takeover of the western economy consistent with a centralisation of the allocation of capital according to the UN sustainability agenda. This risks high volatility and stock specific Read more…
March 10, 2021
Market Thinking is subtitled ‘making sense of the Narrative’ because markets are as much about the stories we tell ourselves as any of the so called fundamentals. Indeed, the fundamentals we focus on are always the ones that fit the Read more…
October 16, 2020
As we noted in Wednesday Wanderer’s Wonderings, one of the biggest differences for markets between a Biden or Trump Presidency is likely to be that the former will embrace the concept of a Green New Deal and by extension ESG Read more…
June 25, 2020
The quote attributed Winston Churchill about never letting a good crisis go to waste came as he and others were looking to set up the UN after the Second World War and was popularised more recently by Obama’s chief of Read more…
June 10, 2020
Fund Managers are sometimes referred to in the terminology of the philosopher Isaiah Berlin as being either foxes – who know many things – or hedgehogs – who know one big thing. Investors should perhaps be particularly careful when a Read more…
May 22, 2020
Today’s announcements from China need to be seen in the context of the last two years of steadily intensifying interference in Chinese affairs by the US as part of the new Cold War. At the 13th National People’s Congress we Read more…