Central banks are doing their best to de-stress the financial system. First the Fed and now the European Central Bank. This week’s Diary focuses on the latest news from central banks and, as Brexit approaches, how Switzerland has coped with 25 years of trade negotiations.LEARN MORE
At the mid-point for the year a Diary about time, trade wars and confidence, together with observations about the growing impact of environmental, social and corporate governance (ESG) issues on commerce and investment.
This week’s Diary covers politics and economics; a heady mix at the moment with which leading and the other following a matter of debate. Also, something old and something new for those looking to the longer term.
A numerical description of Brexit, more about change and fund management lessons from the art world, all make an appearance in this week’s Diary. Investors are in a pensive mood with markets little changed in recent days. Last week equities ended marginally ahead, bonds and gold unchanged, whilst the dollar was our collective currency of choice. Despite burning tankers in the Strait of Hormuz the price of a barrel of oil moved up by only a fraction. Less demand, more shale supply, the explanations flooded in. Something must have changed, but quite what is a matter of debate.
In this weeks’ Diary thoughts on why economic growth is helpful, but not vital when it comes to making a good return, being on the right side of change and why central banks matter. Also, comments about managing supply chains in the real world and some Scottish news. All while letting the train take the strain.
David Miller is a Quilter Cheviot Executive Director and active investment manager. He makes regular appearances on TV and radio and is the author of the prizewinning weekly, Diary of a Fund Manager which now has a global circulation list of over 20,000. In a career spanning four decades, he has worked as a stockbroker and then fund manager, advising private individuals throughout, for the last ten years at Quilter Cheviot which is part of the Old Mutual Group. He read Natural Sciences at Cambridge University and is a committed empiricist, suspicious of economists with theories.
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