Following a series of articles and letters in the FT disputing whether US equities are under- or overvalued, I sent a letter. My contribution to the debate reflects our company’s use, in wealth management, of a ‘long-term asset model’ which, amongst other clever things, generates projections for future real returns from market indices.
read more Commentary by Stuart FowlerMy first post on ‘the science’ of climate variance was very sceptical. No scientist, I do have experience of financial data analysis and the modeling of financial systems. Here is an interesting video from a group of Canadian sceptics, who call themselves Friends of Science
read more Commentary by Stuart FowlerSurely a silly question! Rising prices relative to income make house prices unaffordable. I’m not a property economist but if I apply my expertise in both financial asset pricing and personal financial planning, I think I gain further insights. I hope some property experts will take these further.
read more Commentary by Stuart FowlerIn “Advisers face questions over who pulls the strings” (FT Money, 5th May), Elaine Moore reports that it is now very difficult for consumers to select an IFA based on how they charge. Correct. ‘Fee-only’ superficially holds out the best hope of avoiding bias, but it wastes an adviser’s ability to game the commission system for the benefit if their client. It is also often a sign that the firm is predominantly a financial planner and cannot or should not be managing investment portfolios.
read more Commentary by Stuart FowlerFidelity are launching in the IFA community a new solution combining the accumulation of funds for retirement spending and regular drawdown from a fund after retirement. The offering recognises some key principles of retirement planning:how long we live means there is uncertainty about how long the fund will live if we deplete it at the ‘wrong’ rate; retirement dates are nowadays fuzzy rather than precise planning horizons; the assets funding retirement spending plans are not necessarily all held in a vehicle called ‘pension plan’.
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