Hunting for value

24 April 2017

It has been eight years since global equity markets bottomed in March 2009. Since then stock markets have been robust, with the MSCI World Index returning a solid 11% per annum to the end of March. 

What is outperformance?

19 April 2017

While the dictionary definition of outperformance is simple, the complexity starts when we want to understand it in the context of our investments, as we are faced with so many things we can measure against – the market, inflation, our goals and the performance of peers, to name a few.

Lessons of bubbles past

11 April 2017

A stockmarket ‘bubble’ forms when investors’ demand for stocks pushes prices far above their actual worth. The chance that prices return to normal levels looms large; often an initial drop in stock prices, or ‘pop’ of the bubble, will grip investors with panic, such that they race for the exits, sending markets into a tailspin as investments are sold off. 

New tax year, new allowance, new choices for savers

5 April 2017

As the 2017/2018 tax year kicks off, we look ahead to what’s in store for savers.

Stewardship: being a responsible shareholder

22 March 2017

We aim to buy shares in companies that trade for less than their intrinsic value—the price we believe a prudent business person would pay for the whole business. But our work isn’t over when we make an investment.