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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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
Jun 30, 20203 min read
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...
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Peter Elston
Nov 1, 20194 min read
Active Management and the Predictability of Markets Redux: Corporate Governance
This post is the final of four in a mini-series on the subject of active management and the predictability of markets. The first three...
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Peter Elston
Jul 31, 20185 min read
Am I Right to Worry About Higher Inflation?
Am I right to worry about higher inflation? Followers of our funds and my writing will know that we have been reducing risk in...
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Peter Elston
Dec 1, 20164 min read
A Selective Approach to Investing in Asia
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...
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Peter Elston
Mar 1, 20164 min read
Whither Emerging Markets
I will be writing an opinion piece about emerging markets later this month for one of the trade journals. Here are some preliminary...
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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, 20145 min read
Japan – Bubble, Bust, and Back?
I scarcely realised it at the time, but when I arrived in Tokyo as a graduate trainee in 1989, I was to see economic history in the...
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Peter Elston
Mar 1, 20144 min read
Active Management and the Predictability of Markets – Corporate Governance
The first two posts on market predictability focused largely on how asset classes behave over time. This post looks at patterns within...
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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
Feb 1, 20123 min read
Affiliates Offer Way into Emerging Markets
Some domestic US fund managers argue that investors need not bother with emerging markets: they can obtain exposure to emerging market...
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Peter Elston
Aug 31, 20093 min read
Big Asian Companies Brimming with Eastern Promise
As we approached the one-year anniversary of the collapse of Lehman Brothers memories of that fateful event last year have faded fast....
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Peter Elston
Jul 31, 20094 min read
Asian Manufacturers Continue to Impress
Growing up in Britain as I did in the 60s and 70s, one remembers only too well the unhappiness and upheaval that resulted from the demise...
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Peter Elston
Jun 30, 20093 min read
A Run of the Mill Attitude is No Way to Invest
I don't like exchange-traded funds (ETFs) or, more precisely, the way they are being used. "I doubt such a company would last long" ETFs...
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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
Mar 1, 20074 min read
Core Values that Translate into Huge Returns
Nobody has been able to nail down whether Albert Einstein in fact described compound interest as one of the great - or even greatest -...
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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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