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
Reading Time: 4 minutes First published in Vista Autumn 2021 Markets are hard to interpret at the best of times, and these are not the best of times. Some things you can explain, some you can’t, and some are just weird. Fans of clean narrative and clear cause and effect ought to stick to physics or engineering. Today’s markets … More Meaning from Mixed Messages
Reading Time: 5 minutes Do we stop to question received wisdoms as often as we should? The stories, words, metaphors and concepts we use to describe things do matter. They define the cast of characters on (or off) the economic stage, perhaps implicitly relegating important areas to marginal or non-existent roles, without even thinking about it . Adjectives and … More What if everything you were taught about economics & finance was wrong?
Reading Time: 7 minutes Is inflation coming? How will my portfolio do, what assets help against inflation? … More Asking the wrong question on inflation
