Is it not obvious that investing in higher growth countries will yield higher returns? Not at all. This is one of the traps investors regularly fall into. Saturday’s FT has a timely reminder.
read more Commentary by Stuart FowlerPublished in FTfm, 13th July 2009 (Article by Stuart Fowler)
read more News by Stuart FowlerYou can read on our business website the analysis sent to No Monkey Business clients after last month’s Budget.
read more Commentary by Stuart FowlerThe self-destruction of a large part of the equity capital of many of the world’s leading banks, requiring taxpayers to step in and refinance them, is enough to make people think that the capitalist system itself cannot continue unchanged. Many of the broad sheets, plenty of bloggers and all the usual anti-globalisation suspects have therefore been asking momentous questions about the future of capitalism.
read more Commentary by Stuart FowlerWith the global financial crisis, currency volatility has leapt about fourfold after a long period of false calm. For sterling, over the duration of this equity bear market, this has coincided with almost unprecedented declines of between 30% and 40% against the currencies of the equity markets we invest in. Since the UK was one of the economies with the worst financial imbalances, both between domestic sectors and with the foreign sector, this drop is a significant element of the required economic adjustment process. In this Insight, we look at the prospects for key exchange rates from two different perspectives: the underlying process, which we believe to be a function of Purchasing Power Parity theory, and a geopolitical view of possible exceptional developments, ranging from the loss of dollar hegemony to partial unwinding of the euro zone.
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