Reading the news seems much more complicated these days. Our friend and old colleague, Rob Martorana, has lived and worked in New York all his life. An excellent portfolio manager

It is the era of superlatives, the most frequent being “unprecedented”. The term is unavoidable and, I suspect, carries a level of unease only comparable to what many of our

Yesterday the UK followed much of Europe and the US into a painful lock-down of its people and economy, yet today stock markets rally 5-6% by early afternoon – how

Just like the spread of the COVID-19 coronavirus itself, the rate of policy change over the last few weeks has been astounding. A week ago, Boris Johnson and co. were

Over the course of the weekend, stock markets have turned from euphoric recovery (US closed up +10% Friday night) to depressed tumble once more. In today’s investment update we discuss

Until fairly recently, the activity we’ve seen in equity markets in response to the coronavirus disease (Covid-19) could have been characterised as an ‘orderly’ repricing. Yet last week saw second-order market dynamics, driving valuations

Last week could be characterised as an “orderly” repricing of equity markets to the consequences of COVID-19 disruptions. This week has seen second-order market dynamics, driving valuations down to levels

While most people spent the weekend dealing with the prospect of the COVID-19 epidemic taking hold of UK life, the financial community woke up this morning to another, different –