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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Peter Elston
Jan 6, 20236 min read
Do Not Let Your Comfortable Retirement Slip Away
Now is the time for a truly bold asset allocation
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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
Dec 1, 20214 min read
No Such Thing as a Free Lunch
In my Last Word column in May this year I wrote about investment fund blow-ups, with a focus on the debacle of Allianz’s Structured Alpha...
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Peter Elston
Sep 30, 20203 min read
Capital Growth is Key to Finding Income in a Zero-Inflation Era
Whether because of covid-19 or otherwise, the quest for yield has in recent times been strewn with casualties. Where and how can...
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Peter Elston
Apr 30, 20203 min read
No Health Without Wealth
While it is essential that we protect the integrity of health services, it is equally important that we stop what will undoubtedly be...
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Peter Elston
Mar 31, 20203 min read
The Price of Safety
The University of Cambridge’s Centre for the Study of Existential Risks conducts research in three areas: risks associated with...
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Peter Elston
Jun 30, 20193 min read
A Word in Your Ear
For such a simple word, risk is quite hard to define. It is generally agreed that it pertains to danger of some sort, but that is where...
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Peter Elston
Apr 30, 20195 min read
Long-term Returns and the Dangers of Complacency
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Recently I was...
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Peter Elston
Mar 1, 20194 min read
The Myths and Misunderstandings Behind Active Share
The issue of closet tracker funds charging high fees for poor performance has been a recent gripe of the Financial Conduct Authority. It...
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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
Jul 31, 20183 min read
The Benefits of Smaller Fund Size
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. It is well...
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Peter Elston
Dec 29, 20176 min read
Professional Adviser: Loud and Clear
My note: this piece was written by Julian Marr and captures nicely many of my beliefs about multi-asset investing and investing more...
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Peter Elston
Dec 1, 20175 min read
A New, Simple, Comprehensive Measure of Fund ‘Active-ness’
In the spirit of Christmas, I present in this final letter of the year some truly psychedelic charts! "I guess he’d never heard of Warren...
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Peter Elston
Sep 30, 20176 min read
Five Points about Active Management in the Multi-Asset Space
I was presenting a slide deck entitled ‘The Art and Science of Multi-Asset Investing’ at five venues across the country recently, as part...
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Peter Elston
May 31, 20173 min read
Beware Dividend Concentration Among UK Large Caps
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Much has been...
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Peter Elston
Mar 1, 20173 min read
Value Investing, Whatever the Fashion
This article is about the new investment process that was introduced while I was chief investment officer at Seneca Investment Managers,...
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Peter Elston
Jan 1, 20174 min read
A Closer Look at the Relationship Between Return and Volatility
It is generally agreed and understood that to enjoy higher returns over the longer term one must accept higher levels of volatility in...
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Peter Elston
Aug 31, 20163 min read
How Risky are Specialist Funds?
So far in this series of quarterly blog posts on the subject of investment risk, I have covered risk in general, the risks of equities...
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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
Apr 30, 20161 min read
What is the Best Diversification Strategy in Uncertain Times?
It is a tricky question, because safe-haven assets such as developed market government bonds are expensive, so owning them relies on them...
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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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