12 Aug 2020
Portfolio management - are three brains better than one?
With the summer here, it is time for some fun. I marvel sometimes at how often we delegate thinking to others, rather than doing the hard work ourselves. A mushrooming of committees and advisors is the inevitable result. Perhaps this is a good idea. After all, two or three heads are better than one to look at difficult problems such as asset allocation, are they not?
2 min read
22 Jul 2020
Building infrastructure's future
In my last post, I suggested that our endowment of infrastructure in the UK is far from perfect, but it is not as bad as is sometimes suggested. We can learn from our rich history.
3 min read
24 Jun 2020
The challenge of an S-shaped recovery
Market commentators spend a lot of time contemplating whether the future path of UK GDP will be V-shaped, U-shaped, or indeed if any upturn will happen at all. These perspectives miss something important – the only recovery that makes sense now is one that has S for Sustainability at its core.
2 min read
10 Jun 2020
Rethinking the E in ESG
In a previous post, we examined the compelling basic case for the E in ESG – the risks to our pale blue dot from environmental destruction. Let’s now think a little more deeply about this.
2 min read
01 Jun 2020
Too busy to think - is half a brain better than none?
It may seem reasonable to think that half a brain must be better than none, but is it?
3 min read
12 May 2020
A guide to the mountain of investment
In the inductive investment world of my last post, the over-riding goal is to survive. For the deductive capital asset pricing model (CAPM) investor, market-wide diversification is the best way to survive – for an inductive investor, it is not.
2 min read