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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
Buy Young, Sell Old
How and when should you buy in and sell out of the stock market? My natural response to this age old question is to suggest that one...
Peter Elston
Feb 1, 20213 min read
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What is a Technology Business?
Our ancestor who made the first stone tool, perhaps as long as three million years ago, set in motion one of the most enduring of...
Peter Elston
Sep 1, 20203 min read
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The Price of Safety
The University of Cambridge’s Centre for the Study of Existential Risks conducts research in three areas: risks associated with...
Peter Elston
Apr 1, 20203 min read
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The Liquid Illiquid Solution
There is little doubt that low interest rates have been causing savers and investors difficulties in recent years. In decades past, not...
Peter Elston
Dec 1, 20193 min read
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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...
Peter Elston
May 1, 20195 min read
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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...
Peter Elston
Dec 1, 20175 min read
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The Big Issues with 'Absolute Return Funds'
The three funds my team manage are all multi-asset, investing in equities, bonds, and specialist investment trusts that themselves invest...
Peter Elston
Sep 1, 20174 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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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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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...
Peter Elston
May 1, 20164 min read
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Active Share Tells Fund Managers how to Catch the Biggest Fish
It is unsurprising that “active share has not been a reliable indicator of fund managers’ success” (“Active share revealed to have feet...
Peter Elston
Feb 1, 20153 min read
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The Evolution of Multi-Asset Funds
To understand why multi-asset funds have evolved it is vital to understand two key things about traditional balanced funds: first, how...
Peter Elston
Jul 1, 20134 min read
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Back to Basics: The Foundations of Multi-Asset Investing
The concept of multi-asset investing is not new, based as it is on allocating across various asset classes, such as equities, fixed...
Peter Elston
Jul 1, 20137 min read
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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...
Peter Elston
May 1, 20135 min read
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The Long-Term Benefits of Equities
It makes sense to me that stocks should produce good real returns over time. A corporation is a clever mix of all the factors of...
Peter Elston
Dec 1, 20093 min read
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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...
Peter Elston
Aug 1, 20094 min read
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Unconvinced by the Dismal Science
Recently I was passed an article written in 1991 by the late Isaac Asimov about economics. Asimov, a polymath best known for his science...
Peter Elston
Apr 1, 20094 min read
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8 Pearls of Investment Wisdom
The financial world is a confusing place at the best of times. But with the current uncertainty in markets there may be a particular need...
Peter Elston
Jun 1, 20084 min read
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Mutual Funds: Watch out for Flapping Feet
Most of us know of the proverbial swan, sailing seemingly serenely across the surface of a lake, while obscured by the water its legs...
Peter Elston
Aug 1, 20063 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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