If we have learned one thing in more than 30 years of investing in continental Europe it is that it is much more important to be invested in the right companies rather than trying to make top-down calls.
We are geographically agnostic and sector agnostic, so today we see a number of good opportunities in the industrial and materials sectors, where earnings are holding up reasonably well. This may seem...
Bond investors spent most of last year transitioning towards a more fundamentally driven approach to selecting assets.
There is something strange going on in Europe according to some commentators - the market has rallied aggressively post the trade war-induced sell-off in the fourth quarter of 2018.
We expect to see continued market volatility and macroeconomic uncertainty in the UK throughout 2019, not least due to Brexit.
US stocks had a turbulent last quarter in 2018 and have been somewhat volatile since the start of this year.
While we are stock-pickers, we do not ignore the business cycle; analysing it helps us determine when to allocate capital to certain companies.