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How will the Carillion collapse affect listed infrastructure funds?

How will the Carillion collapse affect listed infrastructure funds?

2 mins. to read

Two funds operating in the listed infrastructure sector have announced that they have significant exposure to Carillion through the subcontracting of facilities management services on Private Finance Initiative (PFI) projects and public-private partnerships (PPP). They have recently provided details about how they will be affected by the compulsory liquidation of the company. The biggest potential…

Boeing is flying high but SpaceX has lofty ambitions

Boeing is flying high but SpaceX has lofty ambitions

13 mins. to read

In the global airframe manufacturing duopoly that is Airbus versus Boeing, the balance of advantage has unexpectedly shifted towards Boeing. But maybe they should both be worried about SpaceX. Airbus saves Bombardier On 06 November last year I wrote in these pages that the October deal between Airbus (EPA:AIR) and Bombardier (TSE:BBD) whereby Airbus would…

Capita looks vulnerable in the wake of Carillion’s collapse

Capita looks vulnerable in the wake of Carillion’s collapse

0 mins. to read

At this stage nobody knows how much wreckage will emerge from the liquidation of Carillion (LON:CLLN). But far-sighted hedgies are looking at what could go on at Capita (LON:CPI). Here, at 397p, CPI is capitalised at £2,650 million as against tangible net liabilities of £3,200 million. This is too much of a gap and, were…

How to prepare for the end of the bond bull market

How to prepare for the end of the bond bull market

2 mins. to read

Traditionally investors have been able to diversify fairly simply by using a mixture of bonds and equities, but with the world’s central banks starting to reduce liquidity there is a good chance that both asset classes will weaken in unison. Many alternatives also look vulnerable, which creates a major challenge for fund investors who want…

Billionaire Jim Mellon to host Charlotte Ransom and Merryn Somerset Webb in Master Investor Show panel discussion

Billionaire Jim Mellon to host Charlotte Ransom and Merryn Somerset Webb in Master Investor Show panel discussion

2 mins. to read

One of the City’s most prominent female entrepreneurs and founder of Netwealth Investments confirmed as speaker for Master Investor Show 2018. On Saturday 17 March 2018, the Business Design Centre in London will host the16th annual Master Investor Show. In a panel discussion compered by renowned UK financier and entrepreneur Jim Mellon and joined by market commentator…

The only 2 words you need to know in 2018

The only 2 words you need to know in 2018

7 mins. to read

To Benjamin Braddock (Dustin Hoffman in Mike Nichols’ film The Graduate), the well-meant one-word piece of advice was “plastics”. To the godfather of value investing, Benjamin Graham, the well-meant three word piece of financial advice was “margin of safety” – and that one happens to have lasted the test of time. Faced with the challenge…

Unemployment in Emerging Markets should not spook investors

Unemployment in Emerging Markets should not spook investors

13 mins. to read

Developing countries like Kenya tend to have shockingly high rates of unemployment. But that should not deter investors – rather it is a sign of potential. Worrying numbers When I wrote last week that Kenya has an unemployment rate of 38 percent, a number of colleagues questioned that figure. How could it possibly be so…

Carillion and Caribbean Investment Holdings

Carillion and Caribbean Investment Holdings

1 mins. to read

I was told perhaps nine years ago that Carillion’s (LON:CLLN) accounting was highly questionable. And by no means was I alone. The surprise is that it has taken so long for all this and its effect to emerge. I hope HMG’s lawyers have been sensible when entering into contract with CLLN to ensure HMG’s losses…

2 stocks to survive a stock market crash

2 stocks to survive a stock market crash

2 mins. to read

While the mood among most investors is relatively upbeat at the moment, it is almost inevitable that there will be a stock market crash in future. This may sound pessimistic, but history shows that asset prices have never risen in perpetuity. This means that while a bull market is currently in its pomp, bear markets…