Would you believe it

The one good thing about breaking your leg (do let me know if there are any more…) is that you get lots of time to read those books you always meant to but never found the time. I have just finished Richard Dawkins “God Delusion” which naturally focuses on...

Is the balloon going up?

I was taken to task recently for admitting – as if it were a crime – to owning some gold. Gold, I was told, doesn’t produce any income which is the raison d’ for holding any investment; valuation thereof being a “simple” discounted cash flow calculation. It is also...

Day 3

Well we have had everything today. Left France in the wet arrived in Switzerland in the dry and then at Interlaken we hit the mother of thunderstorms. Gotterdammerung in spades!! Sheltered in a bikers café for an hour then went 6000 feet up a pass to the hotel with...

Day 2

‘ello ‘ello mes petits rosbifs! Ici nous sommes dans la belle Frog somewhere near Strasbourg at the end of day two. Wifi reception has been hopeless so this will be at least 2 days out of date. 300 miles today – no problem – but the beers are going...

One more thing before I go…

Once upon a time our parliamentary system was the model for all others. Now we have reverted to the days of “rotten boroughs” or should it be “rotten politicians”. At least it has taken the heat off the investment bankers who were also guilty of milking the system. Much...

Debtor’s prison

The budget has pretty much killed off any chance of Labour getting another 5 years; not that the odds were very good anyway; or that the Tories would have done much better. Politicians are in denial as are many investors who think it’s all over. Well as much as...

Stay very nimble…

There seems to be a quiet regaining of confidence in the markets from the January lows; not surprising given the very oversold conditions back then. The huge sums earmarked for government inspired bailouts are slowly improving liquidity and reducing interest rates; the emphasis being on “slowly”. The G20 meeting...

The Great Experiment

The Great Experiment continues with “our” money being spent on any business model claiming to be too big to fail. I have to say, in my “humble” opinion, that Fred Goodwin’s pension is irrelevant given the trillions being thrown into the lame ducks’ pond. There will be a time...

It’s all in the mind…

The fatal assumption made by many economists, who have now persuaded politicians to believe it too, is that we all act rationally when faced with the same set of circumstances. Rational for whom? Take the myriad bail out programmes being touted by governments and central banks all over the...