Monthly Archives: December 2013

turkey thoughts

Twitter, Turkey and Taper in the context of confidence….

While many digest turkey leftovers the other Turkey has witnessed a mini-implosion of its ministerial cabinet. No matter, markets continue to hit new highs and show there is just no substitute for confidence.

December 27th, 2013 by

Behavioural Finance

Comments: 1

shanghai shock

Your global fund won’t thank emerging markets this year…

Nobody doubts the benefits of a diversified portfolio and global equities fund products have been popular in recent times. However, the best performing global funds of 2013 will be those which steered clear of very disappointing emerging markets.

December 20th, 2013 by

Funds

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fear face

Chart: The price of fear…..

Flights to safety can be expensive. Investors hoarding in cash or bonds will look on jealously at equities’ 2013 returns but what about investors in the ultimate fear trade, gold?

December 17th, 2013 by

Funds

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moncler jackets

Market valuations could puff up further…

Many commentators feel markets are possibly fully valued to slightly expensive – the US for instance – but in all cases the debate is using history for context. But what is “the market” today?

December 17th, 2013 by

Value

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greed and fear

Global wealth effect in equities….$63 trillion!

As markets await Fed thoughts it is noteworthy that the value of the world’s largest equities markets now exceeds $63 trillion. That’s a record according to Carpe Diem via Business Insider and exceeds previous highs back in October 2007….

December 17th, 2013 by

Editorial

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wealth destruction

Google builds infrastructure threat for telecoms…

Regular readers will be aware of our concerns on the sustainability of telecoms franchises. Only recently Vodafone massively upgraded its capex spend plans out to 2015 but will they earn an adequate return?

December 17th, 2013 by

Technology

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trading activity

‘Safe’ portfolio carnage and window dressing activity…

The chatter from dealing desks is that activity is still pretty brisk despite holidays approaching. We did wonder what could be driving activity and then we saw this delightful cheeky tweet….

December 10th, 2013 by

Behavioural Finance

Comments: 0

greece and germany

Macro: Is Greece still the word but just not in German…?

Politicians love delaying thorny issues just long enough for their own pensions to be collected. But how long before Greece is on everybody’s lips again?

December 10th, 2013 by

Government

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Screen Shot 2013-12-10 at 13.25.39

A tale of two energy sensitive sectors….

Deutsche Bank is the latest sell-side name to echo the long running WealthiFi theme of oil supply/demand equilibrium or lack of it. Not great news for the monster oil producer sector but could be good news for certain consumers.

December 10th, 2013 by

Style & Sector Trends

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bond threat3

Banks: Another business model threat…

Bad enough that banks in Europe are in aggregate showing negative loan growth under regulatory pressure, it now seems its traditional corporate clients are by-passing the banks.

December 10th, 2013 by

Financials

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