The markets' positive start to the year paused this week, with the S&P 500 index failing (again) to breach its 200-day moving average, and finishing flat over the week, while the UK equity market was modestly down. The videos outlining my recent changes to the Money Makers portfolios will be out shortly. Stuart's latest profile is of the Oakley Capital Investments trust (ticker: OCI), a private equity trust that I like and trades at a narrower discount than some of its larger, better known peers.
Other media this week You can hear an interview with me on Kyle Caldwell's weekly podcast f...
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The markets have continued their positive start to the year, with some potentially important technical moves as well that are giving me pause for thought. I have completed the makeover of the Money Makers portfolios that I put in place at the end of last year and will be explaining those in my next set of videos, out shortly. Stuart's latest profile is of the SDCL Energy Efficiency investment trust (ticker: SEIT).
2022 in hindsight Track records and historical precedents in investment are good servants but poor masters, not least because of the need for context and perspective. Here for exa...
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It is good to report that the markets have made a positive start to the year, with both equity and bond markets making gains in the first week of the year, boosted by a positive jobs market data release in the United States. This week I have recorded a video looking at the leaders and laggards of the past year (link below). I will be following that up with a series of videos about the Money Makers portfolios. Stuart's latest profile is of the Monks investment trust (ticker:MNKS).
2022 in hindsight The table of leaders and laggards I talk to in the video this week does not make for happy read...
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My end of year thoughts are quite short. One reason is that by the nature of my involvement in the markets my thinking does not change suddenly at the end of a calendar year, but evolves slowly as time goes by (so you have already heard most of what I think already). A second reason is that I have long eschewed making predictions for the year ahead, since most such exercises often turn out to be worse than unhelpful, as a 12 month time frame is essentially both unpredictable and arbitrary. Most investors sensibly have a longer time horizon and while it makes sense to review your portfolio at r...
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I have kept a link to my video about what the charts are suggesting in case you missed it last week. I have also included a brief summary of some of the interesting features in the latest Investment Trusts Handbook, which I am happy to say has got off to a good start, with more sales and downloads in the ten days since publication than in any previous year. Many thanks to you if you have been one of them. I have also been interviewed a number of times in the last few days about the Handbook and my reasons for choosing investment trusts. Here is a link to one of them. Because of the Christmas h...
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Jonathan Davis Stuart Watson's fund profile this weekend looks in depth at Tritax Big Box, another component of our income portfolio and one of the most successful specialist property trusts that have joined the sector in recent years. My notes this week are a fairly random collection while the latest market review video will be published on Monday morning.
Comparative trust performance One of the regular and useful calculations that the analysts at Numis perform is to compare the average sector performance of investment trusts against their open-ended fund equivalents. The table below summa...
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Some thoughts on markets and investment trust performance. My own thoughts will alternate with more Q and As with leading professional investors in the weeks ahead.
Too much bullishness I wrote this heading before the weekend news of the new virus strain spreading rapidly across the UK, which has resulted in new lockdown measures, travel restrictions inside the country and the banning of travel to many Continental countries. For the UK in particular, still crawling in crablike fashion towards the end of the Brexit transition period without as yet putting a signature to an EU trade deal, this...
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