The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More

June saw equity markets around the world give back some of the gains made in April and May. The trigger for these falls appeared to be...

The month of May saw equities on the whole continuing to recover from their February and March declines as economic data remained broadly...

As the current global business cycle matures, I thought it might be an opportune moment to revisit one of the basic but counterintuitive...

My framework for tactical asset allocation is based on business cycle analysis and the documented findings that asset classes tend to...

This is my fourth and final piece on value investing. Next year’s four will be on the topic of behavioural investing. In light of Richard...

In his 1992 Chairman’s Letter, Warren Buffett wrote that the investment approaches ‘value’ and ‘growth’ are “joined at the hip”. In many...

I was alerted by an article in the Evening Standard to an interesting research paper entitled Do Stocks Outperform Treasury Bills? The...

My framework for thinking about asset allocation and thus portfolio protection is based around business cycle analysis. It is well...

From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. The whole point...

From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Much has been...

I must warn readers upfront that we at Seneca are value investors, and are thus naturally sceptical about growth investing in its...

I know I bang on about this, but value investing is about so much more than buying low price-to-earnings or low price-to-book stocks....

“If you’re going to burn a bridge, make sure you’ve crossed it first.” Whoever said that might well have been referring to the bridge...

It is generally agreed and understood that to enjoy higher returns over the longer term one must accept higher levels of volatility in...

I recently came across a paper written in 2008 by Robeco’s Pim van Vliet and David Blitz entitled Dynamic Strategic Asset Allocation:...

I’m thinking about launching a smart beta ETF called the “Smart Alpha Smart Beta ETF”. It would invest only in shares that go up. At the...

As I write this Donald Trump has just been declared president and I congratulate him on playing a blinder of a hand. Let’s hope he can...

I was fortunate to have spent twenty or so years working in Asia. It has been – and continues to be – the highest growth region in the...

As I write this Donald Trump has just been declared president and I congratulate him on playing a blinder of a hand. Let’s hope he can...

Here’s an interesting question: do the low or negative long-term real interest rates that prevail around the world signify a bleak...