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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
The Indiscriminate Inflow Threat
Michael Burry, the doctor-turned-hedge fund manager who foresaw the bursting of both the tech and subprime bubbles, has just revealed...
Peter Elston
Nov 1, 20193 min read
Active Management and the Predictability of Markets Redux: Didier Sornette
This is the third in a series of four posts dedicated to the subject of financial market predictability. In this month’s letter, I look...
Peter Elston
Sep 30, 20195 min read
Active Management and the Predictability of Markets Redux: Robert Shiller
This is the second in a series of four posts dedicated to active management, focussing on some of the key figures involved in the study...
Peter Elston
Aug 31, 20195 min read
Our Valuation Methodology Applied to US Equities
In June, we moved to a zero weight in US equities across all our funds. This is obviously a very high conviction position given that the...
Peter Elston
Aug 31, 20184 min read
Behave Yourself!
I’ve been writing quarterly articles for Trustnet over the last couple of years. The first four were on the subject of ‘investment risk’,...
Peter Elston
Mar 1, 20185 min read
Just How Risky Are Equities?
In my last blog I made a very simple point, namely that the low or negative real interest rates that prevail currently across the...
Peter Elston
Apr 30, 20164 min read
Multi-Asset and the Changing Nature of Asset Allocation
Financial advisers will be only too aware that the difference between a comfortable retirement and an uncomfortable one is almost too...
Peter Elston
Mar 31, 20165 min read
Outlook for Equities
It is possible that we are now in an environment in which the falls in markets since last summer, particularly those in early December...
Peter Elston
Feb 1, 20166 min read
Active Share Tells Fund Managers how to Catch the Biggest Fish
It is unsurprising that “active share has not been a reliable indicator of fund managers’ success” (“Active share revealed to have feet...
Peter Elston
Feb 1, 20153 min read
Active Management and the Predictability of Markets – Didier Sornette
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...
Peter Elston
Mar 31, 20145 min read
Active Management and the Predictability of Markets – Robert Shiller
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...
Peter Elston
Feb 1, 20145 min read
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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