Reading Time: 3 minutes For potential fans of a 4-day work week a big study just dropped- but realistically what does it tell us? Sky News covered it as a “Major Breakthrough”, but was it? The bbc went with the more mundane observation that most firms were planning to continue the pilot. A few thoughts: Must have been a … More Who wants a 4-day work week?
Reading Time: 5 minutes The curious case of the stock market, the pension funds, in the library with the lead piping … It wasn’t the pension funds wotdunnit! It’s becoming a national obsession to lament the demise of the London stock market … there seems to have been a spate of articles recently such as this one in the … More No, it wasn’t the pension funds that killed the London stock market
Reading Time: 8 minutes Edit: updated for stats from Credit Suisse yearbook Tl:dr Prediction is difficult … especially about the future. Take them seriously not literally. I do love a well put-together set of expected returns, and it’s been great to see asset managers getting more comfortable sharing their own in recent years (in a previous post I said … More Tour d’Expected returns
Reading Time: 6 minutes How many ideas are you exposed to each year – dozens certainly. Hundreds? Maybe even thousands. But how many do you really remember once you’ve left the room or closed the phone? let alone a week or month later. But some ideas do stick. They burrow into your brain somehow and manage to take up … More Eleven ideas that stuck in 2022
Reading Time: 6 minutes Ok so I listen to a lot of podcasts. Each year for the last few years I’ve put together a list of the best. The ones that made me think different, unearthed a tonne of insight or just forced me to hit rewind and listen again. 2019’s is here, 2020 is here & 2021 is … More Top podcasts of 2022
Reading Time: 7 minutes It’s that time of year. I’m pretty skeptical of market outlooks, generally they either end up being a nowcast, or get thrown out before the ink has dried (see: 2022 forecasts), or they reiterate a bland consensus which isn’t useful or they are too vague or they tell you more about the forecaster than anything … More Not another 2023 outlook …
Reading Time: 4 minutes Full article on LCP Vista at lcpuk.foleon.com I’m talking about voting but don’t worry! It’s nothing to do with the latest UK prime minister or US mid-terms. I’m talking shareholder voting. Getting to grips with shareholder voting in 2022 Should Sainsbury’s match workers’ pay to the Living Wage foundation? Should Tesla report on child labour … More Your Vote Matters
Reading Time: 2 minutes A few things about investing decisions … And a few I’ve learnt along the way 👇 1. Frameworks ground investment decisioning in a complex noisy world. VaR is a framework, returns are a framework. Loads of other possibilities, but you need something. 2. One of the most useful things you can do in investment is … More A few things I think I know
Reading Time: 3 minutes The scale of the big UK DB pensions asset reshuffle of 2022. I was wondering, can we use public data to get a rough handle on numbers and scale of the asset movements triggered by recent market events on a rainy Sunday? I think we can. Summary 🔄£270-380BN asset flow needed to rebalance (workings below). … More The Big DB Pensions Asset Reshuffle
Reading Time: 9 minutes Well well well. I’m sat here on a Sunday afternoon at the end of quite a week. Heading into the office Monday morning I had little idea that we would potentially be caught up in a serious market event that had global ramifications, and at the heart of it all would be the risk management … More LDI: how we got to now
