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The expected return on forex exposure is very low. If your base currency is pound sterling and you invest, say, 10% of the portfolio in...

The world has known the date of the UK's general election for the last five years and, while it may cause some short-term volatility in...

The main problem with bonds and equities is they perform poorly when inflation is high or rising, so the best thing an alternative asset...

It is unsurprising that “active share has not been a reliable indicator of fund managers’ success” (“Active share revealed to have feet...

Equity markets should be encouraged by Bank of England Governor Mark Carney's optimism that inflation will at some point start to rise...

The spectre of deflation is once again looming, with Bank of England governor Mark Carney refusing to rule it out in the UK in the coming...

As misses go, it was as bad as Chris Waddle's at World Cup '90. I am referring of course to economists' estimates of Japan's third...

Inflation is to investment strategy what location is to property: everything. Inflation drives many things that influence financial...

I scarcely realised it at the time, but when I arrived in Tokyo as a graduate trainee in 1989, I was to see economic history in the...

Schroders’ head of investment Peter Harrison is correct in thinking that “it is going to be tough over the next five years for the asset...

As the Financial Times’ John Authers rightly points out, “active share” – the portion of a fund that differs from its benchmark – should...

These recent posts on the subject of active management have sought to distil the work of those who have found pattern in asset prices and...

The first two posts on market predictability focused largely on how asset classes behave over time. This post looks at patterns within...

In this second post on 'market predictability' I look at some of Prof Robert Shiller's work. Shiller was a co-winner of this year's...

That it is possible to add substantially more value to customers' portfolios than is subtracted from them in fees is the basis of the...

I consider myself lucky in that it's always been pretty obvious to me that companies are almost entirely about people. Find sensible...

Austrian-born restaurateur Wolfgang Puck was an unusual but highly entertaining speaker at an investment conference I attended recently....

Real returns from equities since 2000 have been very disappointing. Looking forward, we are more likely to see the potential for poor...