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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
Jul 22, 20225 min read
Is Gold Still Precious?
The outlook for gold in the context of its long-term price trend
760
Peter Elston
Jul 14, 20224 min read
Blurred Lines or No Lines?
Retail investors cannot be adequately protected until the fundamental similarity between investing and gambling is recognised
590
Peter Elston
Jul 13, 20224 min read
Stuck
Why should the QE of the last 15 years be causing inflation only now?
460
Peter Elston
Jul 11, 20225 min read
Even The Germans Went Quiet
Perhaps quantitative easing was inflationary after all
570
Peter Elston
Jul 5, 20226 min read
Strong Words, Mate
How credible is the message from central banks that they can and will bring down inflation?
480
Peter Elston
Jun 22, 20224 min read
Valuing the Essential Nature of Stuff
There is a remarkably simple test for whether something has intrinsic value
790
Peter Elston
Jun 17, 20223 min read
The Ultimate Bearish Scenario?
The combination of central bank weakness and fiscal policy error is a toxic one
730
Peter Elston
Jun 12, 20222 min read
The Next Mis-selling Scandal
Lazy advisers who put clients into bonds should face the music in court
1470
Peter Elston
May 29, 20224 min read
Grin And Bear It
Signs point to the start of a bond bear market Since their peak on 4 August 2020, long duration Treasuries are down 40% in real terms....
560
Peter Elston
May 26, 20222 min read
Misunderstanding About Inflation-Linked Bonds
There is a widespread misunderstanding about inflation-linked bonds, namely that they protect against inflation. They don't. At least not...
980
Peter Elston
May 24, 20223 min read
How Much Of The High Inflation From 1965 To 1981 Was Due To The Two Oil Shocks?
There is no correct answer to this question - other than that before 1973, none of it! - as it is impossible to separate out effects of...
1004
Peter Elston
Jan 1, 20224 min read
Clear and Present Danger
At the time of writing, global equities are up around 17% in US dollars year to date. Sterling weakness has added a further 3 percentage...
160
Peter Elston
Nov 1, 20213 min read
Boiling Frogs
There is no bigger question for investors currently than where UK consumer price inflation is headed in the medium term.
121
Peter Elston
Jan 1, 20213 min read
Lessons From the Chimps
In a recent op-ed, IMF chief economist Gita Gopinath noted that: “For the first time, in 60% of the global economy – including 97% of...
80
Peter Elston
Aug 31, 20203 min read
What is a Technology Business?
Our ancestor who made the first stone tool, perhaps as long as three million years ago, set in motion one of the most enduring of...
91
Where's My Cycle?
An update on where I think we are in the business cycle with respect to growth, inflation and markets
Correlation or causation?
Data is too often presented in an unfair, unclear and misleading way
Dear John
Liontrust's John Husselbee's arguments in support of balanced funds are lame
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