Month: December 2019

Weekly Commentary: 30/12/19 – Change Alley

Change Alley Suggesting that Scrooge’s drive and self-discipline was something we should aspire to didn’t go down well with my millennial children. I rationalised the barrage of criticism as the product of low rates, plentiful debt and cheap money making the concept of being economical unpopular. Scrooge’s world was one of narrow dark alleyways -similar […]

The ultimate competitive advantage

Business schools identify the sources of competitive advantage that tie customers to companies and what they produce. Fundamentally though, there is only one true competitive advantage: people. If I could recommend one book for long-term investors, it would be “Intelligent Fanatics Project” by Sean Iddings and Ian Cassell, which is subtitled “How great leaders build […]

Weekly Commentary: 09/12/19 – The Volatility Reduction Trade

The Volatility Reduction Trade The gating of M&G’s property fund caused the press to become excitable last week. The Questor column in The Telegraph advised investors they were “crazy” to have money in open ended property funds as Aberdeen Property fund redemptions accelerated. Brexit crisis and retail gloom also featured as news wires sensed a […]

Cups and bowls

Cups and handles, and bowls, have been very popular with trend traders. These patterns can be powerful as they show sentiment of the stock gradually changing and buyers slowly overpowering suppliers of the stock. This is a classic cup and handle pattern. The cup is the deeper bowl, along with a handle which is the […]