Picking Winners

2nd October 2013

An academic paper published last month by Tim Jenkinson, Howard Jones and Jose Vicente Martinez, entitled "Picking winners? Investment consultants' recommendations of fund managers" has received much attention in the pension industry - and rightfully so.

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China: A Buying Opportunity

29th August 2013

There are three things the financial press loves to hate: big banks, hedge funds and China. Any time one of these hits a rough patch, journalists seem to have difficultly containing their schadenfreude.

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A Contrarian View on Commodities

5th August 2013

Through most of the past decade there seemed to be a consensus amongst investors that commodities were going through a "supercycle" driven by growth in demand from emerging market consumers and increasingly constrained sources of supply.

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Will it be Different This Time?

21st June 2013

On the 22nd of May, Ben Bernanke uttered a few words that sent markets worldwide roiling. Since then 10-year yields on both Treasuries and Gilts have risen over 40 bps, and nearly every sector of the bond market has taken a hit.

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Inflation And The Ketchup Bottle Effect

15th May 2013

As bonds continue their march upwards, we cannot help but think of the now infamous words spoken by Chuck Prince, then CEO of Citibank, in July 2007: "As long as the music is playing, you've got to get up and dance...We're still dancing."

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Side Stepping The Bond Bubble

23rd April 2013

Bond yields are at all-time lows. This is not news - we have lived through a 30 year bull run in Gilts (10 year Gilt yields have fallen from 16% to 2% since the early 1980s).

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Is Inflation a Greater Risk Than The Market Believes?

16th April 2013

With the monetary authorities of major developed market economies implementing unprecedented levels of stimulus in lock-step, many investors are worried about inflation over the long-term.

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Cyprus – A Tempest In a Teapot?

18th March 2013

News of Cyprus's plans to loot deposit accounts has, not surprisingly, shaken markets and left many wondering whether this could mark the end of the current equity market rally.

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Private Asset Management: Commodities Q&A

1st February 2011

David Ford, managing partner of Gatemore Capital Management, discusses the rationale for commodity investment and how to think about making it part of an overall asset allocation.

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Don’t Take Financial Advice From Salespeople

5th June 2009

At large private banks, “financial advisers” claim to play the role of impartial advice-givers, but in reality often act like


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