Latest News

Latest News

Protecting the Vulnerable

On the afternoon of Sunday 23rd February – now almost two weeks ago – I tried the new Azuma trains running along the East Coast Mainline down to London ahead of meetings starting first thing on the Monday morning.  These new rolling stock are supposed to be a great leap

Read More »

Drying Up

It would be logical to think that investors could take a read from the strength of global markets in 2019 as an indication that things were set fair for a smooth run on fundamental factors into the start of 2020.  The volatility seen in the first few weeks of this

Read More »

Blond Bombshell

The last decade in British politics has been nothing short of astounding in its capacity to confound the pundits and to challenge the orthodoxy.  It is fitting, therefore, that last week’s General Election should provide us with further seismic shifts in the political tectonic plates.  Perhaps the biggest change over

Read More »

Tales of the Unexpected

There have been several occasions over the last three years where we have hesitated to put our thoughts down on paper for posterity because of the risk that events would very quickly render those words irrelevant, or even absurd. Concluding on a cogent “world view” can be difficult at the

Read More »

Risky Business

The summer is often regarded as the political “silly season” where campaigning bluster and over egged promises are more important than what can actually be delivered politically or economically.  One can argue that the political establishments in most of the major economies are currently in perpetual silly season; but if

Read More »

Going with the flow

Our April newsletter attempted to pull together the general themes of the final results reporting season that took place over the course of February and March.  As a brief synopsis, we described a period that was largely benign for the majority of companies that hit market expectations with their numbers,

Read More »

Gearing Down

April should be a time of reflection for those interested in UK equities. The month offers a lull between the avalanche of information that comes with the corporate reporting season, and the subsequent pick up in activity for Q1 reports and AGM statements. It also offers the space to take

Read More »

Eyes Wide Open

Since our last missive, we have had the Spring edition of our Wise Man meeting, where our two “economists-in-chief” – Bob Semple and Adrian Cunningham – help us make a little sense of the wider macroeconomic picture.  As we have said many times before, these meetings are never designed to

Read More »

…and breathe

Readers of a certain vintage may be able to recall perhaps the singularly most ludicrous and cack-handed plot twist in television history when Bobby Ewing popped out of a shower at the start of the 10th season of Dallas, and as a result confined the whole of the 9th season

Read More »

Opportunity Knocks

For much of the second half of last year, we tempered our general optimism for positive UK equity returns with a growing realisation that the serene nature of the upward drift in global markets might be distorting the appropriate pricing of risk.  Indeed, this was not just a factor for

Read More »

Geared Up

This week has marked the start of the “belly” of the reporting season, where analysts and investors pore over a raft of statements on a daily basis; reading the tea leaves to work out what it is likely to mean for profits and dividends in the years ahead.  So far

Read More »

What could possibly go wrong?

Our last missive of 2017 comes (as it normally does) after our final “Wise Man” economics and strategy meeting of the year.  And with it we try and look back on the year just passed, and deduce what lessons it might bring us for the future.  Revera blog-watchers will realise

Read More »