Main markets in review You can find here a link to my latest big picture video review - a run through the main charts I track, including inflation, bond yields and leading equity indices. I will post another video looking at individual trust performance shortly. To access the video, which runs to 27 minutes, you will need to enter the following password when prompted. Password = X^uk3&t? This is the video link. (NB You cannot reach it by clicking on the image). The charts reinforce the message that the markets are still generally looking for direction, albeit with a number of equity indic...
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Into the waiting game Q1 2023 market review in pdf Although I originally planned a video presentation about first quarter 2023 market performance, I have instead provided a simple slide presentation which will be quicker to read through. You can find the slides here with a few notes attached and should be read in conjunction with the slides that I presented at the Master Investor Show at the weekend (available here). Regular readers will know that my general stance remains cautious, while conceding that the economic data and equity markets have been more resilient than I expected in the last f...
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My notes this week include a link to my video about what the charts are suggesting and a disturbing prediction by the Swiss investor Felix Zulauf, whose track record when judging the market cycle has been exemplary in my experience. Following Alastair Laing's stint on the podcast last week, Nick Greenwood and Peter Hewitt will be on the next two weekly podcasts. Sebastian Lyon, the manager of Personal Assets and CEO of Troy Asset Management, has also been booked for a future Q and A. This week you can also find links to both the latest Investment Trusts Handbook and an interview about its co...
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It has another eventful week in the markets and for the investment trust in particular, culminating in the sacking of the Chancellor Kwasi Kwarteng after less than 40 days in the job and the prospect of more U-turns from the new Government. The initial market reaction saw the gilts market reprice briefly, giving some relief for investors in those sectors most affected by higher gilt yields, such as commercial property, renewable energy and infrastructure. To put some recent events in context, I have recorded a market review video.
Market review You can access the video recording of my latest...
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Instead of a lot of words I have concentrated this week on producing another video summarising the way things look as we reach the halfway stage of what is proving to been an epic bad year for investors, with the S&P 500 down more at the six month stage than in any year since 1970 and bond investors also suffering at the same time from soaring inflation and the sharp increase in bond yields. Unfortunately none of this is much of a surprise. Future market historians will, I am sure, look back on some of the excesses of the post-pandemic period with genuine astonishment.
Market thoughts Th...
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I have recorded a new video that runs through some current market charts and explains why I think that we are probably due a rally after the market declines of the first four months of the year. The video also includes some of the slides that Simon Elliott and I presented at the Mello Trusts and Funds event earlier this week. My thanks to all those present who came to the presentation, including several regular listeners to the Money Makers podcast.
Checking on the markets This is the link to the video recording. Please remember to press full screen mode (the symbol of four little arrows that...
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Jonathan Davis Stuart Watson's fund profile this weekend looks in depth at Martin Currie Global Portfolio. The Q and A is with Georgina Brittain of J.P.Morgan Asset Management, who manages both their UK smaller companies and midcap trusts. I have been in Scotland for most of the week, taking a few days off, but will be resuming a more detailed notebook next week. You can now also see the market review video that was originally intended to be published last week but was delayed because of some tiresome technical issues.
Link to market review video The link is here. The video falls into two hal...
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Jonathan Davis As promised I have recorded a video looking at the recent performance of the markets and some favoured investment trusts. I will follow this up in a few days with another look at the portfolios we monitor, to take account of some changes I am in the process of making. The bottom line: the equity markets have been quiet recently but the upward trend of the last 10 months has persisted without so far a significant correction. The UK equity market continues to look attractive on the basis of relative valuations.
Here is the link to the video. Meeting Recording: https://us0...
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This is the second of a number of regular market reviews I plan to include in the Money Makers service, delivered in video format. The first one was recorded on January 24th 2021. In the first one looked at the simple building blocks of any investment portfolio - inflation, bond yields and stock market indices - using medium term charts. In the second I talk about how the markets and the investment trust sector performed in the first quarter of 2021 and explain the thinking behind a couple of changes to the Money Makers Handbook portfolio. I will add some further details in a second video late...
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This is the first of a number of regular market reviews I plan to include in the Money Makers service, delivered in video format. The first one was recorded on January 24th 2021. Being the first in the series, I have used it to explain how I use charts to track the current state of the markets, looking in this case at the simple building blocks of any investment portfolio - inflation, bond yields and stock market indices.
I am not a great believer in technical analysis - the idea that specific chart patterns can tell you exactly what to buy and sell and when to do so - but I do know that they...
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