Reading Time: 5 minutes If you dive into any of Warren Buffett’s many shareholder letters (and you absolutely should – they are a master class of communication style as well as an awesome throwback to the late-90’s early-internet-chic design style) the apparent lessons to take away is that the route to investment success is to buy a small number … More The Real Lessons of Buffett
Reading Time: 5 minutes tl;dr: niche strategy allocations to private markets can be great and good managers have opportunities, but be wary of the mounting received wisdom that all private markets are inherently great investments. One of the clear trends in asset allocation this past decade has been into private markets. You don’t have to look much further than … More Beware the Private Markets pedestal
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: 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
Reading Time: 5 minutes Tl;dr Can your podcast app be more valuable than an MBA? It might. I’ve done the hard work so you don’t have to. Follow these 8 things to cut through the noise and get incredible access to knowledge & thinking to supercharge your investment career. Recently joined the investment industry? Congrats and welcome, you’re going … More New to the investment industry? Eight things you must follow 2022 edition
