Tom Stevenson

I’m sure I wasn’t the only person flattening cardboard after Christmas and wondering who makes this now ubiquitous packaging. There was hardly a day in the run-up to the holidays when I wasn’t signing for a brown box too big for what was packed inside. What a great business, I... Show More

Tom Stevenson

I’m beginning to think that my holidays are turning into a reliable market indicator. Short-haul, good; long-haul, reach for your hard hat. Three years ago, when we visited Japan, the market took a dim view of renminbi weakness and shares fell for another six months until bottoming in early 2016.... Show More

Tom Stevenson

Does politics matter to investors? Read any market report and the answer might seem obvious. Market movements are often explained as reactions to an unfolding political story - Brexit, Catalonia, North Korea, Trump, European elections. All of these have at times over the past 18 months seemed to be key... Show More

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