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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
Aug 31, 20195 min read
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...
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Peter Elston
Jul 31, 20172 min read
Wealth Creation from US Equities Since 1926
I was alerted by an article in the Evening Standard to an interesting research paper entitled Do Stocks Outperform Treasury Bills? The...
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Peter Elston
Mar 1, 20172 min read
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...
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Peter Elston
Dec 1, 20164 min read
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...
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Peter Elston
May 31, 20161 min read
Corporate Sector Indicators
Sales per share is often an interesting indicator to look at. Charts 6 and 7 below do just that, the first by geography and the second by...
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Peter Elston
Apr 30, 20169 min read
Introduction of New Investment Process – One Year On
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Our new...
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Peter Elston
Jun 30, 20156 min read
For the Love of Charts
I like charts. This month I take a look at MSCI’s major global sectors and see if there is anything that can be learned from what has...
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Peter Elston
Jan 1, 20153 min read
Investors Should not Ignore the Deflation Threat
The spectre of deflation is once again looming, with Bank of England governor Mark Carney refusing to rule it out in the UK in the coming...
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Peter Elston
Nov 1, 20132 min read
Emerging Markets – Overtaking the Hare
I consider myself lucky in that it's always been pretty obvious to me that companies are almost entirely about people. Find sensible...
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Peter Elston
May 1, 20135 min read
10 Golden Rules of Equity Investing
"A balance sheet is like a backbone" Treatment of minority shareholders When considering a company, the first question you need answered...
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Peter Elston
Jan 1, 20103 min read
Asia-ex-Japan Equities Outlook
The immediate outlook for Asia ex Japan equities may turn on today's low interest rate policies. In the short term we think these could...
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Peter Elston
Jan 1, 20103 min read
Investing in Commodities – BHP Billiton
Foreign companies wishing to conduct business in China often face difficulties. Problematic labour relations, theft of intellectual...
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Peter Elston
Aug 1, 20085 min read
Trouble in Asia
Overview What is going on in Asia? Stock markets in the region have fallen much more than those in developed markets, and yet economic...
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Peter Elston
Jun 1, 20085 min read
It Pays to Keep an Eye on Yield
I sometimes wonder if it is a little odd to get as excited as I do about dividends. Asia is about growth, people say. Why on earth would...
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Peter Elston
Jul 31, 20074 min read
Why There’s No Market Turmoil on Vulcan
It is hard to think of something to say about the recent upheaval in world financial markets that hasn't already been said either this...
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Peter Elston
May 31, 20075 min read
Rule 1: Know Your Investment Target
Watching recent footage on television of punters gathered around computer screens at Shanghai brokerage outlets, poring over charts of...
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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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