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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Monthly Review and Outlook
December saw a number of key economic data releases indicating continued strength across both the developed and emerging worlds. Latest...
Peter Elston
Jan 1, 20183 min read
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Macro and Markets Monthly
There were few signs during the month of October that the global economic improvement of late was starting to stutter. Labour markets in...
Peter Elston
Nov 1, 20173 min read
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Applying a Value-Oriented Approach to Asset Allocation
We employ two types of asset allocation: strategic and tactical. The strategic asset allocation for a particular fund represents the...
Peter Elston
Oct 1, 20173 min read
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How to Protect your Portfolio
My framework for thinking about asset allocation and thus portfolio protection is based around business cycle analysis. It is well...
Peter Elston
Aug 1, 20173 min read
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Preparing for the Next Downturn
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. The whole point...
Peter Elston
Jul 1, 20174 min read
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Fund Objectives and the Search for Harmony
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. We think that...
Peter Elston
Mar 1, 20176 min read
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2017 Investment Outlook
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. My job is to...
Peter Elston
Feb 1, 20175 min read
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Tactical Asset Allocation and the Business Cycle
I recently came across a paper written in 2008 by Robeco’s Pim van Vliet and David Blitz entitled Dynamic Strategic Asset Allocation:...
Peter Elston
Jan 1, 20174 min read
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Citywire Investment Committee No.2
As I write this Donald Trump has just been declared president and I congratulate him on playing a blinder of a hand. Let’s hope he can...
Peter Elston
Dec 1, 20164 min read
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Citywire Investment Committee No.1
At Seneca we have a five-year investment time horizon so our views don’t tend to change very often. I have little doubt that when I write...
Peter Elston
Oct 1, 20163 min read
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2016 Investment Outlook
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. This investment...
Peter Elston
Jan 1, 201612 min read
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Employment Watch
Unemployment continued to fall across the developed world but in all cases remains about what should be considered full employment. I am...
Peter Elston
Dec 1, 20151 min read
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Contrarian Opportunities
Thanks to Canaccord’s Alan Brierley for his slides highlighting some interesting contrarian opportunities. The four he presented were...
Peter Elston
Nov 1, 20153 min read
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Strategic Asset Allocation
As is the case with many things in the financial world, there is no one clear definition of the term ‘strategic asset allocation.’ While...
Peter Elston
Sep 1, 20155 min read
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Are we Entering a Bear Market?
What do the sharp falls in equity markets across the world port end? Were they simply the inevitable result of prices that had gone up...
Peter Elston
Sep 1, 20154 min read
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Asset Allocation and Unemployment
I am a big believer in keeping tactical asset allocation simple. The more complicated you make it – either by considering too many...
Peter Elston
Jun 1, 20153 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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