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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
Jun 30, 20213 min read
A Game of High Stakes
Inflation has been on the rise recently in the UK and around the world. Is this rise transitory, as central bankers are saying it is, or...
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Peter Elston
May 31, 20213 min read
Message from The Oracle
‘Investing in the future, not the past’ is the theme for this month’s magazine and sounds eminently sensible. Obvious even. Surely it...
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Peter Elston
Apr 30, 20213 min read
When 'Bets' Go Wrong
Readers of this column will know I am an advocate for better protection of amateur investors. But what about the professionals who either...
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Peter Elston
Mar 31, 20213 min read
An Open and Shut Case
Closed-ended funds – investment trusts – are wonderful structures. So, too, are open-ended funds – OEICs, short for open-ended investment...
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Peter Elston
Mar 1, 20214 min read
Vital Statistics
Statistical analysis reveals truth about data. Academic papers based on experimental data normally require a formal, statistical analysis...
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Peter Elston
Feb 1, 20213 min read
Buy Young, Sell Old
How and when should you buy in and sell out of the stock market? My natural response to this age old question is to suggest that one...
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Peter Elston
Dec 1, 20204 min read
Of Probability and Presidents
Cricket often produces riveting five-day games, but in early November the US delivered its own epic struggle. I refer of course to the...
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Peter Elston
Nov 1, 20203 min read
Asia is for Long-Term Investors
Asia Pacific countries excluding Japan comprise 13% of the MSCI All Country World index. Given that they account for over 50% of the...
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Peter Elston
Sep 30, 20203 min read
Capital Growth is Key to Finding Income in a Zero-Inflation Era
Whether because of covid-19 or otherwise, the quest for yield has in recent times been strewn with casualties. Where and how can...
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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...
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Peter Elston
Jul 31, 20203 min read
Pick Out Persistent Themes
To invoke US conglomerate Berkshire Hathaway’s vice chairman Charlie Munger: if investing is not thematic, what the hell is it? Here is...
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Peter Elston
Jun 30, 20203 min read
Is Dividend Investing Dead?
In general, stocks that pay out as dividends either nothing or a low portion of profits have, in recent years, been outperforming those...
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Peter Elston
May 31, 20204 min read
Gold is No Longer for Fools
As many will know from bitter experience, a crisis often has two stages. The first is the crisis itself, whether a natural disaster that...
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Peter Elston
Mar 31, 20203 min read
The Price of Safety
The University of Cambridge’s Centre for the Study of Existential Risks conducts research in three areas: risks associated with...
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Peter Elston
Mar 1, 20203 min read
Stand Firm and Be Strong
For some time now I have been expecting the current global business cycle to end in 2020, with the caveat that it was almost as likely to...
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Peter Elston
Feb 1, 20203 min read
Education, Education, Education
It always saddens me when I hear about small investors having lost, perhaps irretrievably, a sizeable portion of their net worth, in...
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Peter Elston
Jan 1, 20203 min read
Humility and Hubris
A few years ago, I attended a talk by a professional sports bettor. The aim of the talk was to explain the differencebetween professional...
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Peter Elston
Dec 1, 20193 min read
The Liquid Illiquid Solution
There is little doubt that low interest rates have been causing savers and investors difficulties in recent years. In decades past, not...
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Peter Elston
Nov 1, 20193 min read
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...
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Peter Elston
Nov 1, 20194 min read
Active Management and the Predictability of Markets Redux: Corporate Governance
This post is the final of four in a mini-series on the subject of active management and the predictability of markets. The first three...
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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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