News flash News Flash - Trilemma Trade-Offs

News Flash – Trilemma Trade-Offs

“Trilemma” is a term in decision-making theory. Unlike a dilemma, which has two solutions, a trilemma offers three equal solutions to a complex problem. However, the options of a trilemma are conflictual because of mutual exclusivity, which makes only one option of the trilemma achievable at a given time. From an investment perspective, there is…

News flash News Flash – Leadership

News Flash – Leadership

The polarisation of Americans by an autocratic leadership and a lack of bipartisan politics will be one of the most unfortunate, enduring legacies of the Trump presidency. Newly elected President Biden’s inauguration speech on Wednesday was underlined by a call for unity, in that to restore the soul and secure the future of America, this…

News flash News Flash – Moral Redirection

News Flash – Moral Redirection

Last week we published our newsletter for the final quarter of 2020. In this first weekly version for 2021, we look at some of the ironic parallels between US politics over the last few months, especially the last two weeks, and of those traditionally closer to home. Indeed, the failure of political systems is most…

News flash News Flash – Regulatory Interference

News Flash – Regulatory Interference

This week was characterised by a slew of legal and regulatory actions against a few of the globe’s largest media and digital platforms, namely Facebook and Google. This is on the back of recent fines against Amazon, as well as the State of California’s decision against Tesla in May, which prevented the manufacturing plant from…

News flash News Flash - Costly Covid

News Flash – Costly Covid

By late October, there was ample evidence that the global Covid infection rate was spinning out of control. Equity markets were weaker, down a second consecutive month, while the upcoming US election was dividing the country’s population like never before. However global traders betting on a continued slump absorbed a $163bn loss in November, adding…

News flash News Flash – Duality

News Flash – Duality

This year has been characterised by immense duality: The record velocity at which markets declined and then recovered; despair and hope; growing income disparity; stimulus on/stimulus off; and investor sentiment around increased Covid-19 infections versus positive vaccine developments. As we transition into 2021, such duality may continue as ‘‘traditional’’ industries begin to shift to pre-pandemic…

News flash News Flash - Chasing the Vaccine Dream

News Flash – Chasing the Vaccine Dream

In our July article entitled “Equity Market Direction – Will it be the ‘P’ or the ‘E’?” we wrote about the well-known fact that corporate earnings (E) are a very influential driver of share prices (P) over the long-term. To quote US-based investment advisory firm, Fisher Investments: “With two companies now reporting positive advanced trial…