Jeremy Grime

Jeremy has deep experience in the UK Specialist Financials sector through over 30 years experience as a small cap fund manager and broker. Jeremy likes to take a top-down approach to his writing, looking at economic and market trends and then drilling down into opportunities for investors.

I have a view that institutional brokers are in decline because they have lost “placing power” as investors are taking control of their own finances. So ultimately placing power will revert to those that own the retail flow (as was the case 80 years ago when my forbears were stock broking) which puts Private Investors using software like SharePad and ShareScope in a great position!

Latest Articles

  • Weekly Commentary: 20/01/20 – Culture in payments 20th January 2020 by Jeremy Grime - Culture in Payments There were no spare seats when I arrived at Panmure Gordon’s offices last week for the Non-Standard Finance investor day titled “Culture driven Performance”. The presentation was riddled with keywords such as “Integrity”, “Clarity”, “Respect”, “Trust”, “Empathy”… ...more
  • Weekly Commentary: 13/01/20 – Culture 13th January 2020 by Jeremy Grime - Culture Luck plays a part in investing but there is also a theory that you make your luck. Both K3Capital and Dart Group are cyclical businesses which performed strongly in the second half of last year. It could be that… ...more
  • Weekly Commentary: 06/01/20 – The Roaring 20’s 6th January 2020 by Jeremy Grime - The Roaring 20’s Nothing quite starts a new decade as reassuringly as Greggs Vegan Steak Bake causing late night queuing in Newcastle. With Pizza Hut’s vegan pepperoni pizza, Costa’s vegan ham and cheese toastie, KFC’s vegan chicken burger and M&S’… ...more
  • Weekly Commentary: 30/12/19 – Change Alley 30th December 2019 by Jeremy Grime - 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… ...more
  • Weekly Commentary: 23/12/19 – Lessons for 2020 23rd December 2019 by Jeremy Grime - Lessons for 2020 It has been rather enjoyable as the year draws to a close. The Boris Bounce was a pleasant experience for investors. Excitingly for some it was a rally in the value stocks. Top of the leader board… ...more
  • Weekly Commentary: 16/12/19 – The Golden Era of Small Caps 16th December 2019 by Jeremy Grime - The Golden Era of Small Caps The fear was palpable last Thursday as I sat in a broking office. The millennials queuing at the voting booths put the fear of God into those traders worrying about a labour government. The… ...more
  • Weekly Commentary: 09/12/19 – The Volatility Reduction Trade 9th December 2019 by Jeremy Grime - 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… ...more
  • Weekly Commentary: 02/12/19 – Shrinking Markets 2nd December 2019 by Jeremy Grime - Shrinking Markets The liquidation of Nautilus Minerals caught my eye last week. This was a company which was to be one of the first underwater miners aiming to recover gold, silver and copper from deep water off the coast of… ...more
  • Weekly Commentary: 25/11/19 – Superstocks 25th November 2019 by Jeremy Grime - Superstocks I have been living with value stock affliction for some time. It can be irritating particularly when the wind is blowing the wrong way. In the past it has led to text messages from colleagues saying “What price did… ...more
  • Weekly Commentary: 18/11/19 – What Goes Around…. 18th November 2019 by Jeremy Grime - What Goes Around…. It is clear the technology growth bubble is now starting to unwind but the difficult question is where to go to next? I have wondered about the mining sector in previous weeks and last week I used… ...more
  • Weekly Commentary: 11/11/19 – The Cult of Equities 11th November 2019 by Jeremy Grime - The Cult of Equities Each week that passes my excitement is building. Value is coming back. I have felt like a fish out of water as what appear to me to be millennials tell me I am crazy not buying… ...more
  • Weekly Commentary: 04/11/19 – Profiting from Folly and Disaster 4th November 2019 by Jeremy Grime - Profiting from Folly and Disaster Old fashioned companies such as TP ICAP have started putting strong trading statement out which is strange times indeed. This is an old-fashioned voice broker of financial products. The staff are renowned for loud and… ...more
  • Weekly Commentary: 28/10/19 – Sticking to our guns 28th October 2019 by Jeremy Grime - Sticking to our guns Investing can be lonely. Buying stocks in a downturn can be hard - we don’t know if we are catching a falling knife. Traders tell us we should operate with a stop loss policy so we… ...more
  • Weekly Commentary: 21/10/19 – A New Era Dawns 14th October 2019 by Jeremy Grime - A New Era Dawns Often it is easy to be so pre-occupied with the present that we miss the elephant quietly sauntering past the boardroom windows. The focus on Woodford Investment Management closing its doors over the week end was… ...more
  • Weekly Commentary: 14/10/19 – Forex 14th October 2019 by Jeremy Grime - Forex There are reasons to be gloomy just now. As I walked past Westminster last week the protester carrying an anti-Brexit placard looked forlorn as the extinction rebellion protesters drowned out his signage. Over in Hong Kong the protests are… ...more
  • Weekly Commentary: 07/10/19 – Special Situations 7th October 2019 by Jeremy Grime - Special Situations At times like this it is easy to make mistakes. I confess to being bored of my stocks. They haven’t done anything exciting for a while. The most exciting thing last week was Gervais Williams of Miton tipping… ...more
  • Weekly Commentary: 30/09/19 30th September 2019 by Jeremy Grime - Liquidity Crunch Across the table in the rather tired looking meeting room, the grey haired but immaculately presented fund manager bit his bottom lip as he prepared to disclose something - telling me he was uncomfortable about what he was… ...more
  • Weekly Commentary: 23/09/19 23rd September 2019 by Jeremy Grime - Navigating Change Conservatively Sometimes it can be useful to stand back and take stock so we don’t get those market eyes that can’t see the wood for the trees. It seems with the abandoning of the WeWork IPO the bubble… ...more
  • Weekly Commentary: 16/09/19 16th September 2019 by Jeremy Grime - Inefficient Markets I find myself increasingly bullish. Or maybe I have recently had a holiday and by the end of the week all bullishness will have gone.  Seemingly macro fears have led to risk aversion. The FTSE 100 is 7.7%… ...more
  • Weekly Commentary: 09/09/19 9th September 2019 by Jeremy Grime - Business Models I found myself wondering whether models become outdated over time. In this age of diversity, governance reporting, and gender indexes I question whether our parliament using whips may be a little outdated. When I was at university, business… ...more
  • Weekly Commentary: 02/09/19 2nd September 2019 by Jeremy Grime - It’s a bi-polar world Printing money hoping that will engineer inflation has in the past resulted in inflation, but it hasn’t worked. As central banks increase their balance sheets the hope was that banks use the reserves to create money… ...more
  • Weekly Commentary: 27/08/19 27th August 2019 by Jeremy Grime - The Great British Corporate Sale One of the things the City of London excels at is selling its own to overseas acquirors. Back in the day Messrs Wasserstein and Perella sold themselves to Dresdner Bank to create Dresdner Kleinwort Wasserstein… ...more
  • Weekly Commentary: 19/08/19 19th August 2019 by Jeremy Grime - Agricultural Investing The nerves were tested last week. Back in Q4 last year the 17% fall in the FTSE 100 was one of those typical draw-downs that happen towards the top of a bull market. It is necessary to have… ...more
  • Weekly Commentary: 12/08/19 12th August 2019 by Jeremy Grime - The Narrative of Growth I suspect I am not alone in being trained as a value investor in the 1980’s. That was an era when straws were made of plastic, burgers were made of meat and bonds paid an income.… ...more
  • Weekly Commentary: 05/08/19 5th August 2019 by Jeremy Grime - In need of boredom Equity investors need to be an optimistic bunch - since equity markets outperform over the long run. Academics Dimson Marsh and Staunton titled their study of 20th century market returns “Triumph of the Optimists”. But sometimes… ...more
  • Weekly Commentary: 29/07/19 29th July 2019 by Jeremy Grime - Testing times I find this one of the most uncomfortable investing era’s I can recall. The outperformance of growth stocks continues while markets grind higher over a sultry summer. I have always had a secret hankering after the ugly duckling… ...more
  • Weekly Commentary: 22/07/19 22nd July 2019 by Jeremy Grime - The Greening of Fund Management It is still useful to contemplate the state of the world over a good lunch as I did last week enjoying a long and slow sunny afternoon with a fund manager friend. We reflected that… ...more
  • Weekly Commentary: 15/07/19 15th July 2019 by Jeremy Grime - Where are the Customers’ Yachts? The book “Where are the Customers’ Yachts?” by Fred Schwed was written 75 years ago but as we watch the continuing headlines over Woodford it seems as relevant today as then. It has some very… ...more
  • Weekly Commentary: 08/07/19 8th July 2019 by Jeremy Grime - The Bubble has burst Sometimes we spend so long waiting for something to happen we don’t realise it has started. But I think it has already started. No one rings a bell at market changing points. There are the 1987… ...more
  • Weekly Commentary: 01/07/19 1st July 2019 by Jeremy Grime - Disruption in the Courts Early for lunch on the 24th floor of Tower 42 in the City I gazed over the tower blocks of the city. When I started work the City buildings stopped at Liverpool Street Station. The area… ...more
  • Weekly Commentary: 24/06/19 24th June 2019 by Jeremy Grime - Structural Change in the City It always amazes me how debt can lead to innovation. Humans find ingenious solutions. The Bank of England was founded in 1694 because the 9-year war against France was expensive. Usefully that enabled us to… ...more
  • Weekly commentary: 17/06/19 17th June 2019 by Jeremy Grime - It’s “avoid the warnings” time Last week saw a few profit warnings. Somero, Ted Baker, Quiz, Pendragon warnings were based on revenue disappointments but I suspect cost pressures are building too at the moment. The trend of increasing warnings appears… ...more
  • Weekly Commentary: 10/06/19 10th June 2019 by Jeremy Grime - Companies with Culture The noise around Woodford’s humiliation last week was deafening. And it was a bad week for Hargreaves Lansdown (-14%). I don’t recall such a lot of noise around a fund manager since the demise of New Star… ...more
  • Weekly Commentary: 03/06/19 3rd June 2019 by Jeremy Grime - The “End of Global Trade” Week Last week the talk moved from politics to trade wars. Consensus seems to be that the trade war between the US and China is set to continue for a while. With the UK political… ...more
  • Weekly commentary: 28/05/19 28th May 2019 by Jeremy Grime - Time to own value? Unicorns The Unicorns stable door has been left wide open. Beyond Meat, a US loss making protein meat brand, listed in New York in early May rising 163% on its first day of trading valuing it… ...more