Hancock’s Half Hour 18/11/20

2020-11-18T11:24:22+01:00November 18th, 2020|Blog|

This Government certainly has the ability to dampen spirits. I know we are in precarious times but, God forbid, give us a break occasionally, please. Having locked us down again earlier this month Boris was firmly insistent that we will be released by no later than the 2nd December. How excited we all were when Pfizer-BioNTech announced their Covid vaccine had enjoyed a terrific success rate of 92% in its trials. [...]

Dismal Days 2/11/2020

2020-11-04T12:42:53+01:00November 2nd, 2020|Blog|

So many things for the market to worry about. It is currently in one of those phases during which, even when presented with good news, it worries about the bad news that might follow. Faced with the sunny, bright uplands it searches for the heavy rain clouds over the hills. On the Brexit front there now seems every likelihood that an agreement will be reached. In these dire times when even [...]

Board With No Bottle 26/10/2020

2020-10-27T09:18:10+01:00October 26th, 2020|Blog|

I mentioned in my last blog on the 29th September how the cheapness of our equity market relative to the other global majors was beginning to be evidenced by overseas predatory interest in some of our companies. I suggested that, whilst the UK’s discount remained so wide we should expect that interest to grow, particularly from America. Not long after that article G4S, the FTSE 250 security firm, found itself on [...]

Covid Chronicles 29/9/2020

2020-09-30T09:25:43+01:00September 29th, 2020|Blog|

Back in February when we were first being shocked by the threat of Coronavirus, I wrote the following in my blog of the 27th: “I can’t help but feel the global governmental response to coronavirus is a panic-stricken knee-jerk. In fact, the common response is to quarantine vast numbers of people who could have been in contact with a discovered carrier. I write as someone whose medical knowledge is minimal, to [...]

The Borrowers 8/9/2020

2020-09-08T09:32:44+01:00September 8th, 2020|Blog|

If this were a game of charades you would expect me twiddle my hands around to indicate a book and a film. Both were pleasant little comedies if you enjoy that sort of thing. I’m not quite sure how you mime “government” but that is today’s borrower, and a big one too.  Its debt has risen to 100% of GDP and is destined to rise further as the consequences of the [...]

Back In Town 18/8/2020

2020-08-18T09:24:01+01:00August 18th, 2020|Blog|

Back In Town An unscheduled visit to the office on Thursday, necessitated by a thunderbolt blowing out the internet for most of the village on Wednesday evening, allowed me to see how the capital is recovering. I was pleasantly surprised by the numbers out and about but sad to see so many small enterprises closed. Train services are half what they were and not that full and, although the majority wore [...]

Chinese Cracker 14/07/2020

2020-07-14T11:57:46+01:00July 14th, 2020|Blog|

The Chinese stock market seems impervious to the travails of China itself, ignoring the ongoing war of words with Donald Trump on trade, the global pressures to rid the West of Huawei’s involvement in its infrastructure, accusations of misinformation re the Coronavirus origins in Wuhan, worldwide contempt for its stance on Hong Kong and much else beside. Indeed, the louder the global anti-China rhetoric becomes the greater heights the stock market [...]

Summer Madness 29/06/2020

2020-06-29T13:40:38+01:00June 29th, 2020|Blog|

I suggested in my last blog that unlocking the economy would be the biggest of several gambles the government has been forced to take with this awful pandemic. If the gamble fails, a second spike emerges and a second lockdown were to become necessary, the damage would be far worse than the economy has sustained thus far. There is just no way the government could repeat the emergency cash measures taken [...]

Covid Catch-Up 29/5/2020

2020-05-29T12:03:06+01:00May 29th, 2020|Blog|

Views on the global economy, driven as ever by those on the US economy, started with a potential “V” shaped recovery, moved through thoughts of a reverse “tick” and then onto a “U” shape with an extended bottom. The stock market, particularly the US, has pretty much missed out the tick and the U and has convinced itself that its own recovery will be V shaped. So is this possible? The [...]

The Post Covid Picture 6/5/2020

2020-05-06T11:38:34+01:00May 6th, 2020|Blog|

The world is likely to be much changed once we finally reach the other side of the Covid chaos. Something of this magnitude will leave an indelible imprint on peoples’ lives, changing attitudes and behavioural patterns, certainly for a time and, who knows, perhaps permanently in many cases. I would think we will generally be a bit more “make do and mend”, bringing a pause to the throw-away society we have [...]