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My note: this piece was written by Julian Marr and captures nicely many of my beliefs about multi-asset investing and investing more...

In the spirit of Christmas, I present in this final letter of the year some truly psychedelic charts! "I guess he’d never heard of Warren...

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...

Take a look at the equity weight over time of some multi-asset funds and you’d have thought that the manager was at best flipping coins...

We employ two types of asset allocation: strategic and tactical. The strategic asset allocation for a particular fund represents the...

I was presenting a slide deck entitled ‘The Art and Science of Multi-Asset Investing’ at five venues across the country recently, as part...

From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Most of you will...

This article is about the new investment process that was introduced while I was chief investment officer at Seneca Investment Managers,...

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

The three funds my team manage are all multi-asset, investing in equities, bonds, and specialist investment trusts that themselves invest...

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

From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. I abhor poor...

The concept of ‘intrinsic value’ is at the heart of Benjamin Graham and David Dodd’s 1934 framework that would later be known as ‘value...

I mentioned at the start of this letter that we had been shortlisted for two prestigious awards. We were nominated in two of 18...

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