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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
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
Mar 1, 20203 min read
Stand Firm and Be Strong
For some time now I have been expecting the current global business cycle to end in 2020, with the caveat that it was almost as likely to...
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Peter Elston
Jan 1, 20203 min read
Humility and Hubris
A few years ago, I attended a talk by a professional sports bettor. The aim of the talk was to explain the differencebetween professional...
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Peter Elston
Sep 30, 20195 min read
Active Management and the Predictability of Markets Redux: Didier Sornette
This is the third in a series of four posts dedicated to the subject of financial market predictability. In this month’s letter, I look...
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Peter Elston
Sep 30, 20193 min read
Many Unhappy Returns
Investment strategist James Montier now works with famed fund manager Jeremy Grantham at GMO, but in a past life wrote a fabulous paper...
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Peter Elston
Aug 31, 20195 min read
Active Management and the Predictability of Markets Redux: Robert Shiller
This is the second in a series of four posts dedicated to active management, focussing on some of the key figures involved in the study...
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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
Nov 1, 20183 min read
Are you in Denial?
I occasionally like to ask people if they are in denial about something or other. If they say ‘no’, I smile. Then, when they see the...
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Peter Elston
Sep 30, 20183 min read
Reducing Equity Targets
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Last year we...
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Peter Elston
Aug 31, 20183 min read
The Investor as an Animal
Behaviour is everything. Our collective behaviour determines whether we as societies or as a race are creating or destroying. From time...
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Peter Elston
Jun 30, 20184 min read
Tactical Asset Allocation in the Current Phase of the Business Cycle
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Our analysis...
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Peter Elston
May 31, 20183 min read
Hubris is the Greatest Challenge
I am not exactly sure how I have ended up as a chief investment officer. Looking forward at the investment landscape, I generally only...
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Peter Elston
Apr 30, 20183 min read
Investment Markets are There to Make you Look Stupid
When you make a decision to buy something, whether a stock, a fund, an ETF or a passive fund, you impose on yourself a second decision,...
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Peter Elston
Mar 1, 20185 min read
Behave Yourself!
I’ve been writing quarterly articles for Trustnet over the last couple of years. The first four were on the subject of ‘investment risk’,...
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Peter Elston
Feb 1, 20184 min read
How Investors Often Make Bad Mistakes En Masse
Having now written two series of articles exclusively for Trustnet on the subjects of ‘investment risk’ and ‘value investing’, I now turn...
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Peter Elston
Nov 1, 20174 min read
Three Lessons from Value Investing
This is my fourth and final piece on value investing. Next year’s four will be on the topic of behavioural investing. In light of Richard...
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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
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
May 31, 20155 min read
Fear of Equities
Every now and again I feel the need to wonder why people are so scared of equities, in light of how stable dividend distributions are...
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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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