Investment Strategy: Fourth Quarter 2018
Welcome to the fourth quarter 2018 investment strategy.
(You can email, print or create a PDF using the convenient icons at the bottom right of each article).
General Market Review
Global growth remains firm, led by the US, but there has been some loss of momentum in Europe, China and the rest of Asia.
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Specific Market Reviews: United Kingdom
Anyone who has had the misfortune to have been closeted in a meeting with me at any time in the last decade will have been...
Read more
Specific Market Reviews: United States
The economy remains in good shape and corporate earnings growth is forecast to be around 20% this year which mitigates some of the valuation concerns.
Read more
Specific Market Reviews: Europe
The ‘great economic recovery’ story is losing some momentum and events in Italy highlight the ongoing dysfunctionality of the Eurozone.
Read more
Specific Market Reviews: Emerging Markets and Asia
The ‘great economic recovery’ story is losing some momentum and events in Italy highlight the ongoing dysfunctionality of the Eurozone.
Read more
Fixed Interest
The long term direction of travel in bond yields remains gently upwards as global growth remains firm and Central Banks gradually tighten monetary policy.
Read more
Commercial Property
The Commercial Property cycle has become increasingly mature and returns will likely be lower going forward, driven almost entirely by rental income rather than capital growth.
Read more
Commodities
Oil prices remain firm reaching US$80/bl and prompting a significant rally in energy stocks.
Read more
Currencies
The US dollar has rallied this year as political travails and disappointing economic data proved headwinds to the euro and sterling.
Read more
The Great Unknown…
I’ve tried to avoid writing about Brexit in the last few newsletters because trying to follow the tortuous progress has been an exercise in frustration...
Read more
Investment Strategy: Fourth Quarter 2018
Welcome to the fourth quarter 2018 investment strategy.
(You can email, print or create a PDF using the convenient icons at the bottom right of each article).
General Market Review
Global growth remains firm, led by the US, but there has been some loss of momentum in Europe, China and the rest of Asia.
Read more
Specific Market Reviews: United Kingdom
Anyone who has had the misfortune to have been closeted in a meeting with me at any time in the last decade will have been...
Read more
Specific Market Reviews: United States
The economy remains in good shape and corporate earnings growth is forecast to be around 20% this year which mitigates some of the valuation concerns.
Read more
Specific Market Reviews: Europe
The ‘great economic recovery’ story is losing some momentum and events in Italy highlight the ongoing dysfunctionality of the Eurozone.
Read more
Specific Market Reviews: Emerging Markets and Asia
The ‘great economic recovery’ story is losing some momentum and events in Italy highlight the ongoing dysfunctionality of the Eurozone.
Read more
Fixed Interest
The long term direction of travel in bond yields remains gently upwards as global growth remains firm and Central Banks gradually tighten monetary policy.
Read more
Commercial Property
The Commercial Property cycle has become increasingly mature and returns will likely be lower going forward, driven almost entirely by rental income rather than capital growth.
Read more
Commodities
Oil prices remain firm reaching US$80/bl and prompting a significant rally in energy stocks.
Read more
Currencies
The US dollar has rallied this year as political travails and disappointing economic data proved headwinds to the euro and sterling.
Read more
The Great Unknown…
I’ve tried to avoid writing about Brexit in the last few newsletters because trying to follow the tortuous progress has been an exercise in frustration...
Read more