Reading Time: 11 minutes Just because there’s noise around responsible investing doesn’t mean there isn’t substance. But the biggest risk to the movement right now is greenwashing by asset managers and others that’s taking place out there, every month, every day. While the intent is not malicious, it undermines the foundations of a movement that is genuinely starting to … More Greenwashing away trust
Reading Time: 5 minutes Here’s my latest fortnightly real talk markets newsletter, in this edition: Q1 mumble, inflation, climate, the new triple-peak workday and Bill Gross is still standing. If you like it, please subscribe over on substack: How’s your week? I got followed by the real Bill Gross on Twitter y’all. So it’s been that kind of a … More Transitory inversion
Reading Time: 7 minutes Words like turning point and uncharted territory are easily overused in investing. No-one rings a bell at the top or bottom, and it’s always different this time, so usually they are no help. But it’s probably fair to say that 2022 is shaping up to present one of the more challenging periods investors will have … More Investing in a time of inflation: what they don’t tell you
Reading Time: 7 minutes I hereby call a meeting of the FAANG inclusion committee, on the agenda: Decade in review: how we the committee became one of the best stockpickers in the world Additions / deletions: Netflix Nvidia Microsoft Tesla Facebook/Meta 3. Two radical proposals for the future of the committee: 3.1 Renaming as GAMA 3.2 Dissolution of the … More Convening the FAANG committee
Reading Time: 5 minutes A reader asks: how do stockmarkets typically do in high inflation / interest rate rising environments (asking for a friend). You can see why the question is being asked: It’s the question we’re all asking right now (or should be). It’s funny sometimes when something that has been so widely predicted / talked about, actually … More Asking for a friend
Reading Time: 6 minutes Hypothetical question. How much is a business worth that does $120bn of revenue in a quarter , at a 40% profit margin. What if I told you earnings have been growing around 20% per year? Well, “a lot” would be one answer. But clearly Apple (yes, you guessed it!) is already valued at “a lot” … More 🍏
Reading Time: < 1 minute I’m starting a newsletter … Your Thursday Investment Fix Yeah I get it. Your inbox is already overflowing with thought-pieces , thunk-pieces, dunk pieces and puff pieces. But here’s the deal – this will be 3 minutes to read that will actually be useful. Every 2 weeks on a Thursday I will bring you: 3 … More Launching YTIF
Reading Time: 3 minutes how valuable is performance meaurement in investing, really? … More The Value of Measures
Reading Time: 7 minutes The best investment podcasts of 2021 … More A dozen podcasts that will help you think better about 2021
Reading Time: 7 minutes Over the last 20 years, one of the biggest trends I think we’ve seen during my career is the fundamental quantum unit of the portfolio shift from being stocks (usually domestic) to funds (global). This is true for large, institutional investors but it’s also true for individuals. As just one example of this, UK individuals … More From portfolios of stocks to portfolios of funds
