We have seen a disconnect between the performance of Nasdaq 100 (+19% YTD) versus US regional banks (-28% YTD). Companies covered: two large acquisitions by RAT, FRAN plus G4M’s profit warning. The FTSE 100 was up +2% over the last 5 trading days to 7,788. The S&P500 was flat, while the Nasdaq100 was down -1%

Platforms have made it easier for retail shareholders to vote at company AGMs, remuneration committees should take note. Plus a look at the computer games sector: TM17, TBLD, KWS and a couple of financials AQX and BUR. The FTSE 100 rose to 7,685 last week, an increase of +2.9%. The Nasdaq100 and the S&P500 were

The Swiss Central Bank’s balance sheet in 2022 shows signs that Credit Suisse’s problems were well understood, but harder for the authorities to resolve. Companies covered KAPE, SDRY, ALPH and EQLS.  The FTSE rose +1% to 7476 in the last five days, most of which was on Monday morning. The Nasdaq100 was up +2% and

With the ‘rescue’ of Credit Suisse over the weekend, Bruce ponders what might happen next and which indicators to focus on. Companies covered BUR and TCAP. The FTSE 100 fell -2.5% to 7,358 over the last 5 days. The Nasdaq100 and S&P500 were up +1.4% and 5.8% respectively, indicating that the sell-off in markets has

Following the rescue of Silicon Valley Bank, Bruce looks at possible read across to recent IPOs and IP Group. Companies covered IPO, FRAN and Georgian Banks BGEO / TBCG. I suggested last week that the rally was running out of steam. I was not expecting a bank run in Silicon Valley though (SIVB total assets

With the rally running out of steam, Bruce looks at long-run equity returns. The two banks which compete to publish this data have performed much worse than the average equity. Companies covered SHC, RMV and RCDO. The rally seems to be running out of steam. The FTSE 100 was down -0.2% to 7,917. The Nasdaq

Bruce looks at the Berkshire Hathaway 2022 shareholder letter, which Buffett published over the weekend.  Stocks covered AVAP, SLP and GBG. The FTSE 100 remained just below 8,000, and was down less than -1%, recovering from a sell-off early last week. The Nasdaq100 and S&P500 sold off more heavily, down -3.9% and -3.0% respectively. The

Cross-border liquidity could be driving the market rally, so it’s worth keeping an eye on Central Banks in China and Japan.  Companies covered KAPE, HL. and BGEO.  The FTSE traded above 8,000 last week, up +0.7%. The Nasdaq 100 was up +0.4% while the S&P 500 was down -0.3%. The US 10Y bond yield has

With equity markets and industrial metals like copper rallying at the start of this year, Bruce looks at some companies geared into the recovery. SDRY, NFC, SAA, BOTB and CWR. The FTSE 100 was flat at 7,774 in the last 5 trading days. In the US the S&P was up +2.5% and the Nasdaq 100

Bruce looks at the government’s misguided attempt to defend the pound with capital controls in the 1970s. Companies covered are forex traders ALPH and EQLS, plus CAPD. The FTSE 100 was down 0.9% in the last 5 days to 7,791. The S&P500 was down -0.3% while Nasdaq100 was up +1.39% over the same time period.

Bruce looks at Terry Smith’s 13th annual shareholder letter and compares what he’s now saying about his META investment to his commentary a couple of years ago.  Companies covered GAW, TMG, FRAN, QTX The strong start to the year continues, with the FTSE 100 +1.64% to 7,851 in the last 5 days, approaching an all-time

Bruce looks at how the warm weather in Europe has been affecting financial markets.  Companies covered NXT and CNC, plus profit warnings from HEIQ and FDEV. The FTSE 100 has enjoyed a strong early January, up +3.4% to 7,705. OCDO was up +20%, while IAG (the old British Airways) and BT were up +17% and