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
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
With the exception of two bampots with silly haircuts facing off across the Pacific Ocean, equity markets have not had a huge amount of big picture concerns over the summer months. In the short term, the political administrations here and across the pond have curiously managed to hamstring themselves through
At the time of writing, and fully eighteen days after the General Election, we finally have some public assurance that the UK will have – for a time – a functioning government. The Conservative & Unionist Party, and the Democratic Unionist Party have announced a deal that will see the
Since our last missive, we have enjoyed the company of our two “Wise Men” for a day of debate and deliberation over the prognosis for the UK and global economies, and the subsequent implications for financial assets. To jump straight to the conclusion, we were left with the sense that
Next week will see the release of the March factsheets for our funds. Contained within them will be a subtle, but potentially significant, change of emphasis in the message we send out. Since the back end of last year, we have increasingly raised effective investment and reduced client liquidity in
Last Friday provided possibly one of the more incongruous sights we’re ever likely to see. A slightly “day-glo”, septuagenarian billionaire (apparently) giving a Citizen Smith-style fist salute to the watching world as he assumed the mantle of leader of the world’s largest democracy and Commander-in-Chief of the world’s largest army.
Our last newsletter of the year is being written in the aftermath of the annual attendance at my daughter’s carol service at the end of last week. The theme of the sermon was again the Miracle of Christmas. And yet again, I resisted the urge to collar the Minister after