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My Money’s on the Women

The recent Time’s Up and #MeToo movements have given me reason to reflect on the role of gender in the financial industry. When it comes to investing, common stereotypes plague women. For example, we’re too conservative or don’t understand enough about investments. We don’t save enough. We start too late. We lack confidence. I often (though not universally) see this in my own interactions with clients, especially married couples. Wives tend to defer to their husbands when it comes to making investment decisions and trust in the husband’s experience and decision-making. This is not a judgment, just an observation.

The Economics of Tariffs

Recently, President Trump unilaterally decided that the US is going to institute tariffs on both steel and aluminium. Tariffs have been used in the past by previous administrations and, indeed, other countries around the world. Tariffs, or customs duties, are taxes on imported products, usually in an ad valorem form, levied as a percentage increase on the price of the imported product. Tariffs are one of the oldest and most pervasive forms of protection and barriers to trade.

2017 Annual Market Review

Economic Overview: Solid economic data gave markets little to be concerned about

As we reflect on the year gone by, 2017 proved to be another year of surprisingly strong investment returns across the board. The last quarter provided positive returns and equity markets are now in their ninth year of a bull market. No major risks materialised in 2017, so market volatility continued to be low throughout the year.

Impact investing looks like the space to watch

As with every new generation, attitudes and preferences change, and millennials are no exception to this rule. Some of this undoubtedly comes from the natural instinct for independence. However, factors such as higher university education rates and access to the wealth of information available for free online have certainly had an effect on the tech-savvy millennials who have grown up with this technology. This is especially obvious when you contrast their lives with the baby-boomers who are currently in the process of transferring their estates to them, many of whom have wholly different penchants when it comes to investing.

Value Investing – an update

In June this year, Warren Buffett made a deal to provide financing to Canada’s Home Capital Group (HCG) and also purchased a stake in the company. While other investors were selling out of Home Capital because of a run on deposits in Canada’s number one lender of residential mortgages to borrowers with poor credit ratings, Buffett was buying in. He secured generous terms on his loan and purchased his stake at a steep discount of 33% on the stock’s previous closing share price. Time will tell if Buffett’s investment will be successful, for now, this appears to be a good example of Buffett buying cheaply or in other words, a good “value” investment.

Trump Tax Tinkering

Evidence based investment approach.

POTUS Donald Trump wants to over haul the current US tax system. Today US tax is a curate’s egg – partly good and partly bad. You have a mixture of high rates and generous exemptions which arguably can offset one another.

Mayday for the dollar?

Two weeks ago Theresa May’s call for a snap election in the UK may have stunned Westminster but it also caught currency markets on the hop. The pound enjoyed one of its best days in a decade rallying to a six month high against the dollar. It has certainly been noticeable for US taxpayers in the UK with an interest in “Cable” – foreign exchange market jargon for the sterling: dollar exchange rate (GBPUSD). Ahead of the election announcement the market was trading round 1.25 and since then GBPUSD has been as high as c. 1.2950 and is still just above 1.29 at the time of writing. Back in the middle of March it was just above 1.21.