ANALYSIS: Capitalist economies tend to thrive when businesses can safely assume that governments will treat them fairly and consistently and that changes in regulations and taxes will be driven by broad policy objectives rather than erratic favouritism.
ANALYSIS: Suggestion that markets inflated by home bias potentially have greater downside if markets do suffer a serious crash.
ANALYSIS: This article looks at some possible kind surprises for 2024 – yes, wishful thinking.
ANALYSIS: These numbers suggest that banks are not over-earning relative to capital employed.
ANALYSIS: The trick is not to de-risk too much. Even relatively small allocations can provide a valuable hedging benefit.
ANALYSIS: Ultimately, 2023 was a year of ‘what if’s and ‘maybes’.
ANALYSIS: Investigating the difference between arithmetic average returns and geometric average returns finds some mathematical trickery and also an element of truth.
ANALYSIS: Due to the ever-increasing build rate, the operators’ overall portfolio of retirement villages was not of a vintage that generated positive free cashflow.
ANALYSIS: The year that's been turned out better than expected, so what's on the cards for the 12 months ahead?
ANALYSIS: The question is – international fixed interest, and if not, why not?