A Financial and Political Turning Point

It’s been an incredibly long couple of days as we tried to navigate the initial fallout from the ‘Brexit’ vote in the markets, and then sit down to consider the longer term implications of what…

Market review: Brexit

Britain woke up on Friday to the news that the UK has voted to leave the European Union. Prime Minister David Cameron has resigned, and Bank of England Governor Mark Carney did not hesitate in…

Troy Income & Growth Investment Trust

Summary Troy Income & Growth (TIGT) is relatively concentrated portfolio of around 40 stocks, with a focus on blue chip UK listed companies which have strong franchises and sustainable dividend growth. The trust’s objective is…

Ruffer Investment Company

Summary Ruffer Investment Company is an unusual investment trust focused squarely on absolute returns. It invests primarily in ‘long only’ assets – equities and bonds – but also uses currencies and derivatives as part of…

The Continuing Story of Central Bank Failure

We have been meaning to write an in depth report on central bank policies for some time and the market responses to recent BoJ policy decisions as well as the Fed meeting and press conference…

Another European Summer of Discontent

Five of the last six Summers have seen European troubles bubbling to the surface. It appears that this year, Europe is again struggling to contain some wildfires that have just taken hold. Indeed, after four…

When is Mexico’s Moment?

Mexico’s economy surprised analysts in the first quarter by beating expectations and growing at an annualised rate of 3.2%. It was a rare bright spot as investors begin to wonder if ‘Mexico’s moment’ is slipping…

Picking the Low Hanging Fruit

Anyone who has got to know our views over the last 12 months or so has probably heard us talking about trying to pick low hanging fruit. By this, we obviously mean that we wish…