As promised I have posted here a topdown pictorial summary of market and investment trust performance in the first half of 2023, drawing on slides from a range of different sources. In due course I will record a video looking at trends and individual security performance in more granular detail.
To access the slides click on the link (not on the image) and use the password H12023. I am grateful to all the brokers and research houses which provide me with this raw material.
Q2 2023 market review as pdf
A reminder that without knowledge of your individual circumstances and t...
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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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We round up some notable events and significant movers across the world of investment trusts in the first half of 2021.
It was a decent half-year for global stock markets with the MSCI All Country World Index up 11.4% in pound terms, not far short of its 13.2% return over the whole of 2020. In the UK, the FTSE All-Share returned 11.1% while the FTSE All-Share Equity Investment Trust Index, a decent proxy for the investment trust sector that includes nearly 200 trusts, rose 6.9%. The total amount of assets in the sector topped £250bn for the first time, reaching £256bn as of the end of June 20...
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Jonathan Davis This week I have recorded a market review video, as well as some further market thoughts below, to be followed next week by a second video looking at the behaviour of the model portfolio and recent investment trust performance. Stuart Watson, our new contributor, has added half a dozen fund profiles from his archive which you can find here (link), as well as some additional commentary in the weekly review of trust news and data. The Q and A this week is with Duncan Baillie, the manager of the Ruffer Investment Company (link here), which includes many pertinent points about curre...
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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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