The Rules of Investing

Finding quality companies is only half the battle.

When times are tough, it pays to stick to your guns.

It’s been a crazy year for virtually every asset class. Commodities have been particularly interesting, though, because earlier this year, when most everything was...

When I ask most fund managers about today's operating environment, they almost invariably respond with words like 'difficult', 'complex', or 'bearish'.  And you...

The old adage that "past performance is not an indicator of future returns" is possibly more relevant in today's market than ever before.  When the market is driven...

It's not a stretch to call the last twelve months in markets a regime change. Inflation, rates, valuations, liquidity; everything has been turned on its head.  While...

When markets crash sharply, as they did earlier this year, it can be a mistake to assume that as soon as the falls peter out, the market will then naturally...

The world is opening, but not to calm and stability.  Rather, COVID has left a trail of destruction. And I'm not talking about the health implications. The pandemic...

Investment management can be a brutal business. When you're talking small caps, the brutality is amplified even further.  Between March 20 and September 3 last year,...

Fixed income has had a torrid time of it the last year – in fact, by some measures it’s been the worst year on record – with US treasuries losing about a tenth of...