Quarterly Commentary – Q2, 2019 -Blair Campbell of MitonOptimal Portfolio Management in Guernsey discusses the 2019-Q2 markets, key macroeconomic influences and their impact on asset prices.
I attributed this quote to the economist John Maynard Keynes in my last Weekly Comment in August (“As per John Maynard Keynes, change your mind – portfolio positioning – when the facts change. But not before”). There is some disagreement on the origin of this quote, but apparently the comment should have been attributed to
If you listen to various commentators talk about world equities, one would be under the illusion that the bull market days are numbered, especially after the recent falls in US markets. We would, however, argue that this is not the case, but not for the obvious reasons. The reality is that we are not in
Financial Times contributor John Authers wrote his last “The Long View” article on the weekend after 12 years in harness at the pink paper. We at MitonOptimal have long, excuse the pun, been readers of his articles as sensible and pragmatic journalism on investment philosophy, long term asset allocation and trying to make sense of
A decade after the global financial crisis, increasing levels of debt in prominent developing economies are driving fears of a new panic that could spread far beyond the disorder being experienced in Turkey right now. While the Turkish Lira has lost more than 40% of its value in Dollar terms in 2018, this loss of
So why have I decided to lead with this famous quote? Well the answer is that what held true in 1971 still holds true 47 years later. In 2018, the Dollar is still the reserve currency of the world, which means we still live in a US-centric world, with trade flows and markets still dominated