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Oct 7, 2026
One of the most common views expressed in financial markets at present seems to be that bonds (particularly the government variety) are no longer an effective diversifier when held...
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Sep 29, 2026
We judge risks based on how they make us feel.
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Sep 16, 2026
Amidst the “panic”, “fear” and “tumult” in government bond markets, it can be difficult to keep a cool head. Short-term trading is easily conflated with longer-term...
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Sep 2, 2026
At any given point in time, there is a risk in financial markets that is the focus of everyone’s attention. Recently this has been US Treasuries with talk of a ‘fiscal crisis’...
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Aug 26, 2026
When people discuss the benefits of adopting a ‘do nothing’ approach to investing, I am always reminded of the study where – when left alone in a room – a...
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Aug 5, 2026
It is irrefutable that most of us have a range of behavioural traits that are ill-suited to making sensible investment decisions.
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Jul 29, 2026
For a multi-asset investor, being underweight equities is a notoriously painful position.
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Jul 15, 2026
I have a question for you. If you take all of the hearts from a standard deck of 52 playing cards, and then lay them out one by one, in how many different orders can the 13 cards be...
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Jul 8, 2026
In a world where investors are increasingly being encouraged to react and trade (typically not for their benefit), doing nothing can often prove to be sage investment advice.
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Jul 2, 2026
I have never been a strong believer in the notion that a fund manager should invest their clients’ assets ‘as if it were their own money’.
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Jun 26, 2026
Some vivid human behaviours that arise when we are watching the World Cup, all of which should feel very familiar to investors.
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Jun 10, 2026
The stock market is certain about our AI future, but there's still a lot that could go wrong.
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Jun 3, 2026
There is no process, no matter how robust, that works in all environments and at all times.
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May 20, 2026
Bonds are a good but not perfect diversifier for stocks.
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May 13, 2026
This is not a piece about banal AI-written investment content, it is an exploration of why a reliance on AI kills the benefits of writing for both reader and author.
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May 8, 2026
The most worrisome feature of this market is the temptation to do two things we really shouldn’t. What are these two things?
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Apr 30, 2026
It is easy to think about the merits of any asset class as based entirely on its financial return prospects, but what if an asset provides a different benefit – what if it makes us...
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Apr 15, 2026
The investment beliefs we hold should underpin any decision we make, without them it becomes incredibly difficult to make coherent choices – particularly during spells of...
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Apr 1, 2026
One thing I am certain of is that, in recent years, investors have talked a lot about “rising uncertainty”.
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Mar 25, 2026
Many investors seem to manage their portfolios from one risk to another, month by month, quarter by quarter. Suffice to say, this is probably not a strategy that can be successful...
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Mar 11, 2026
The path is unknowable but the destination is pretty sure.
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Mar 5, 2026
What we do and don't know about the Iran war.
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Feb 25, 2026
P.T. Barnum would have been a great market pundit.
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Feb 13, 2026
Will investors start to value real things more and ephemeral things less?
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Feb 5, 2026
How does extreme positive performance from any asset class or fund make us think and act, and why?
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Jan 30, 2026
Contrary to how these environments are likely to make us feel, a 2024 study showed that future equity market returns tend to be higher when coverage of war is more prominent in the...
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Jan 22, 2026
In 2025, I ran a prediction game for finance professionals. This year, to keep pace with current trends, I decided instead to pose ten questions about markets in 2026 to several AI...
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Jan 14, 2026
From a behavioural perspective, our ability to meet our long-term investment objectives is really about one thing: managing the conflict between our desire to save for the future and...
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Jan 8, 2026
Back in December of 2024, I ran a survey which was completed by 276 finance professionals. It asked them 10 questions on what would happen in markets in 2025. Let’s see how...
Oct 7, 2026One of the most common views expressed in financial markets at present seems to be that bonds (particularly the government variety) are no longer an effective diversifier when held...
Sep 29, 2026We judge risks based on how they make us feel.
Sep 16, 2026Amidst the “panic”, “fear” and “tumult” in government bond markets, it can be difficult to keep a cool head. Short-term trading is easily conflated with longer-term...
Sep 2, 2026At any given point in time, there is a risk in financial markets that is the focus of everyone’s attention. Recently this has been US Treasuries with talk of a ‘fiscal crisis’...
Aug 26, 2026When people discuss the benefits of adopting a ‘do nothing’ approach to investing, I am always reminded of the study where – when left alone in a room – a...
Aug 5, 2026It is irrefutable that most of us have a range of behavioural traits that are ill-suited to making sensible investment decisions.
Jul 29, 2026For a multi-asset investor, being underweight equities is a notoriously painful position. 
Jul 15, 2026I have a question for you. If you take all of the hearts from a standard deck of 52 playing cards, and then lay them out one by one, in how many different orders can the 13 cards be...
Jul 8, 2026In a world where investors are increasingly being encouraged to react and trade (typically not for their benefit), doing nothing can often prove to be sage investment advice. 
Jul 2, 2026I have never been a strong believer in the notion that a fund manager should invest their clients’ assets ‘as if it were their own money’. 
Jun 26, 2026Some vivid human behaviours that arise when we are watching the World Cup, all of which should feel very familiar to investors.
Jun 10, 2026The stock market is certain about our AI future, but there's still a lot that could go wrong.
Jun 3, 2026There is no process, no matter how robust, that works in all environments and at all times.
May 20, 2026Bonds are a good but not perfect diversifier for stocks.
May 13, 2026This is not a piece about banal AI-written investment content, it is an exploration of why a reliance on AI kills the benefits of writing for both reader and author. 
May 8, 2026The most worrisome feature of this market is the temptation to do two things we really shouldn’t. What are these two things?
Apr 30, 2026It is easy to think about the merits of any asset class as based entirely on its financial return prospects, but what if an asset provides a different benefit – what if it makes us...
Apr 15, 2026The investment beliefs we hold should underpin any decision we make, without them it becomes incredibly difficult to make coherent choices – particularly during spells of...
Apr 1, 2026One thing I am certain of is that, in recent years, investors have talked a lot about “rising uncertainty”. 
Mar 25, 2026Many investors seem to manage their portfolios from one risk to another, month by month, quarter by quarter. Suffice to say, this is probably not a strategy that can be successful...
Mar 11, 2026The path is unknowable but the destination is pretty sure.
Mar 5, 2026What we do and don't know about the Iran war.
Feb 25, 2026P.T. Barnum would have been a great market pundit.
Feb 13, 2026Will investors start to value real things more and ephemeral things less?
Feb 5, 2026How does extreme positive performance from any asset class or fund make us think and act, and why?
Jan 30, 2026Contrary to how these environments are likely to make us feel, a 2024 study showed that future equity market returns tend to be higher when coverage of war is more prominent in the...
Jan 22, 2026In 2025, I ran a prediction game for finance professionals. This year, to keep pace with current trends, I decided instead to pose ten questions about markets in 2026 to several AI...
Jan 14, 2026From a behavioural perspective, our ability to meet our long-term investment objectives is really about one thing: managing the conflict between our desire to save for the future and...