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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
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...
Peter Elston
Jul 1, 20203 min read
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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
Sep 1, 20195 min read
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Three Lessons from Value Investing
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...
Peter Elston
Nov 1, 20174 min read
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Long-Term Growth Prospects may be Rosier than you Think
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...
Peter Elston
Aug 1, 20173 min read
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Why we are Focusing on Good Value UK Mid-Caps
I must warn readers upfront that we at Seneca are value investors, and are thus naturally sceptical about growth investing in its...
Peter Elston
Mar 1, 20172 min read
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Preparing for the Impending End of the Bond Bull Market
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....
Peter Elston
Mar 1, 20175 min read
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Why Value Investors Don’t Have to Restrict Themselves to Cheap Stocks
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...
Peter Elston
Dec 1, 20164 min read
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Value Investing is Not the Same Thing as Value Indices
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. I’m thinking...
Peter Elston
Dec 1, 20164 min read
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Value Investing: The Basics
I am a value investor. I hate to give him even more publicity than he already has, but Woodford Patient Capital Trust’s Neil Woodford...
Peter Elston
May 1, 20153 min read
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It's About the Long Term, Stupid
Bill Miller’s 15-year streak of beating the S&P 500 index is finally over. When the end came it was big. His fund, the US$ 21 billion...
Peter Elston
Feb 1, 20074 min read
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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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