It’s Time to Do Something About High Wealth and Income Inequality
High wealth inequality is being increasingly cited as one of the main causes of the structurally lower growth that much of the world,...
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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
May 31, 20165 min read
Active Management and the Problem with “Passive”
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. My attention was...
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Peter Elston
Apr 30, 20164 min read
Just How Risky Are Equities?
In my last blog I made a very simple point, namely that the low or negative real interest rates that prevail currently across the...
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Peter Elston
Mar 31, 20164 min read
EM Growth Needs to Recover to Pre-Crisis Levels
The volume of opinion surrounding emerging markets can, at times, seem deafening. For simplicity’s sake, I will discuss just two key...
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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
Feb 1, 20166 min read
Outlook for Equities
It is possible that we are now in an environment in which the falls in markets since last summer, particularly those in early December...
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Peter Elston
Feb 1, 20162 min read
Inflation Watch
There are very tentative signs of improvement in inflation numbers around the world (improvement could mean it either rising if it is too...
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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
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
Nov 1, 20154 min read
Why Gold is a Poor Investment and Doesn't Always Hold its Value
What role should gold play in a portfolio? Should it be considered an investment, a store of value (money), or as insurance? "Although...
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Peter Elston
Sep 1, 20155 min read
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...
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Peter Elston
Jul 31, 20154 min read
Are ‘Safe Havens’ Really That Safe?
In recent years there have been a number of complaints against advisers in which the Financial Ombudsman Service has ruled that the...
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Peter Elston
May 31, 20154 min read
How Can the Fed Solve the Interest Rate Conundrum?
It is generally agreed that a little inflation (in the order of 2% per annum) is a good thing. Anything higher than this impedes private...
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Peter Elston
May 1, 20154 min read
The Big Picture
Looking back, the biggest events over the last 18 months have been the substantial falls in G7 bond yields and the oil price as well as...
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Peter Elston
Nov 1, 20143 min read
Inflation is Key to Gauging Business Cycles
Inflation is to investment strategy what location is to property: everything. Inflation drives many things that influence financial...
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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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