Do Not Let Your Comfortable Retirement Slip Away
Now is the time for a truly bold asset allocation
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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
Dec 2, 20228 min read
Vanguard Doubles Down
The passive fund behemoth refuses to consider possibility that inflation will remain high
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Peter Elston
Jun 12, 20222 min read
The Next Mis-selling Scandal
Lazy advisers who put clients into bonds should face the music in court
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Peter Elston
May 29, 20224 min read
Grin And Bear It
Signs point to the start of a bond bear market Since their peak on 4 August 2020, long duration Treasuries are down 40% in real terms....
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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
Sep 30, 20183 min read
Inflation Warning Flashes Red
Renowned economist Milton Friedman wrote: “Inflation is a disease, a dangerous and sometimes fatal disease, a disease that if not checked...
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Peter Elston
Aug 31, 20172 min read
The Case for UK Growth
In his 1992 Chairman’s Letter, Warren Buffett wrote that the investment approaches ‘value’ and ‘growth’ are “joined at the hip”. In many...
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Peter Elston
Mar 1, 20175 min read
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....
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Peter Elston
Feb 1, 20171 min read
The Bridge to your Comfortable Retirement
“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...
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Peter Elston
Jul 30, 20164 min read
Navigating a Low Growth World
While it is far from clear what its long term impact will be, Britain’s vote to leave the EU has shone a light on the growth problems in...
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Peter Elston
Feb 1, 20162 min read
Specialist Investment Vehicles hold Key to 'Decent Yields'
If you buy the 30-year inflation protected gilt today and hold it to maturity you are guaranteed to lose 24% of your real capital. Where...
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Peter Elston
Feb 1, 20164 min read
Just How Risky are Bonds?
In my last blog I wrote about how volatility is a poor measure of risk, by considering the general attributes of both equities and bonds....
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Peter Elston
Jan 1, 20165 min read
Value versus growth – A misleading binary
The analytical framework set out by Benjamin Graham and David Dodd in 1934 was very intricate, whereas the constituents of value indices...
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Peter Elston
Nov 1, 20154 min read
Why equities are less risky than bonds
Here’s a question. From November 1940 to September 1981, the annualised standard deviation of real returns from US long dated bonds was...
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Peter Elston
Sep 30, 20136 min read
The New Economy: Flexibility is Key
Real returns from equities since 2000 have been very disappointing. Looking forward, we are more likely to see the potential for poor...
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Peter Elston
Mar 1, 20133 min read
Government Bonds: A Game of Chicken?
Over Chinese New Year I went trekking in Nepal. On the long drive to the starting point we were held up at a roadblock by villagers who...
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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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