By now most of the readership, we assume, has heard about the Archegos Capital fiasco. A situation that, last Friday, shook global equity markets. A series of events wiping out close to 50% of the market capitalisation of Discovery, more than 50% of Viacom, 20% off Baidu to name a few, not to mention the fact that it has led to an increased level of volatility in global markets. But, just in case you haven’t and you are an investor who has been scratching his/her head at what has been happening in terms of price action, read on.
Robert Swift takes a look at the shift in language coming from central bankers and finance ministers and, more importantly, the implications for equities and bonds.
Every generation sees certain trends that go beyond the cyclical. Trends that encapsulate a fundamental change to the way things are done. When we say secular growth, we are referring to structural changes taking place in the economy; from e-commerce fundamentally changing the ways in which people shop to QE that has ushered in a decade long growth story in equities, in particular the higher growth names. In this piece we want to put forward a few such trends that are likely to fundamentally shift both the economic and investment landscape over the next ten to twenty years.
This week we would like to take a look at Greensill Capital and its spectacular fall from grace. Its fall, preceded by another yet bigger collapse in the form of German payment processor Wirecard, has raised many questions around the ability of regulators to keep up with changes in modern finance and left the German regulator in a shambolic situation.
Last week Sid Ruttala provided us with a list of things not to worry about, this week he goes the other way and takes a look at a couple of things to keep a eye on given the current market environment.
Robert Swift pens a fictitious memo to Jay Powell, elaborating on his thoughts concerning global monetary policy as it currently stands.
Robert Swift takes a look at what happened in February in markets and touches on some of the adjustments made within his portfolio. This is an excerpt from Robert's Global High Conviction report for February 2021.
Markets & Commentary
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TAMIM Asset Management provides general information to help you understand our investment approach. Any financial information we provide is not advice, has not considered your personal circumstances and may not be suitable for you.