SUPPORTED BY Hi Reader, Happy Friday! September is, statistically, the worst month of the year for stocks. Investors attempt to avoid the September selling by, uh, selling in September. In-depth: Central banks are pulling their gold reserves out of America. Newsbites: Non-farm payrolls, UK house prices, and the AGI era. PensionCraft News: How much you need to retire, building a bond ladder, and the post-tax equity risk premium. IN-DEPTH Dutch Courage: The Gold War In July 1971, Paul Volcker...
11 days ago • 6 min read
SUPPORTED BY Hi Reader, Happy Friday! The Robot Olympics concluded with a Chinese humanoid running the 100 metres in 8.64 seconds, beating Usain Bolt's world record by almost a second. More importantly, the robots have finally mastered comedy. (Check out the audience groan at the end.) In-depth: Fed Chair Kevin Warsh took to the stage at Jackson Hole to reassure markets about his commitment to fighting inflation. Did it work? Newsbites: US vs Canada, gold and bitcoin surge, and Meta's record...
19 days ago • 6 min read
SUPPORTED BY Hi Reader, Happy Friday! Note to self: do not become the richest man in China. Never ends well. In today's newsletter: In-depth: Why did the US Treasury intervene in bond markets? And why didn't it work? Newsbites: UK inflation up, asking prices down, and a cure for cancer. PensionCraft News: How the wealthy invest, governments vs currency markets, and the Japan carry trade and your portfolio. IN-DEPTH Comic Timing: Bessent’s Bond Buyback They say comedy is tragedy plus time. But...
26 days ago • 6 min read
SUPPORTED BY Hi Reader, Happy Friday! Don’t you think Korea is a curious peninsula? The most extreme experiment in communism lives next door to what is arguably the world's most committed form of capitalism. But in Seoul, regulators have realised things might have gone a touch far. Earlier this year South Korea launched single-stock leveraged ETFs, and within two months they made up more than 40% of daily trading volume, as investors gambled all the money they had, and some that they didn’t....
about 1 month ago • 6 min read
SUPPORTED BY Hi Reader, Happy Friday! The S&P 500 hit a new all-time high this week amid a strong earnings season and rebound in tech. What might shock you is that the FTSE 100 has almost kept pace over the last five years. Both have delivered total annualised returns of around 13% since August 2021, with dividends reinvested. Though start date matters enormously. Extend the window to ten years and it's a lot less flattering for the UK market. In-depth: How did hackers drain $130 million from...
about 1 month ago • 7 min read
SUPPORTED BY Hi Reader, Happy Friday! South Korea’s Kospi index logged its biggest ever one-day gain, jumping 18% after a brutal selloff over the last three days. Entire countries are moving like meme stocks. In-depth: How a high-profile hedge fund blew up betting on AI. Newsbites: Rates held, yields up, and Chinese stocks down. PensionCraft News: Terry Smith's troubles, unsolved market mysteries, and how to invest a lump sum at different ages. IN-DEPTH Hedge Fund Blowup: Margin for Terror...
about 2 months ago • 5 min read
Hi Reader, Happy Friday! Investing means weighing risk against reward. Here's how Britain feels about that: Source: YouGov In today's newsletter: In-depth: Can Manchesterism survive contact with the Westminster bubble and Britain's fiscal constraints? Newsbites: Oil rises above $100, Trump announces fresh tariffs, and the London Stock Exchange set to open round the clock. PensionCraft News: Retiring abroad, Britain and the bond market, and July's member portfolio critiques. IN-DEPTH Small...
about 2 months ago • 7 min read
SUPPORTED BY Hi Reader, Happy Friday! Well, it's not coming home. I always said beware of home bias. In-depth: Can AI turn a profit in a world of open-source Chinese models? Newsbites: Slow growth, record bank profits, and IBM's awful day. PensionCraft News: Will the UK state pension still exist? Is America still exceptional? And our latest tracker updates. IN-DEPTH Cash Landing: Will AI Make Money? Do you like graphs? Of course you do. You wouldn't be here if you didn't. How’s this one for a...
2 months ago • 6 min read
SUPPORTED BY Hi Reader, Happy Friday! You could charge good money for a cloud right now. ☀️ In-depth: How did the oil market defy the Iran War and forecasts of $200 a barrel? Newsbites: Iran ceasefire, the Bank of England's big fear, and a South Korean bear. PensionCraft News: Could China pop the AI bubble? Can asset classes play football? And how to benefit from financial coaching? IN-DEPTH The World’s Most Underwhelming Oil Shock There’s a sort of unspoken hierarchy inside every investment...
2 months ago • 5 min read
