The housing market has been a profitable place to invest in the last few decades. A fundamental imbalance between supply and demand, as well as a loose monetary policy in recent years, have contributed to a purple patch for the industry. It has provided an alternative to dividends, bond coupon payments and interest on cash…
Things are changing in the aviation business. Three new trends in aircraft technology are about to revolutionise the industry. First, a new generation of super-long range aircraft are coming into service, meaning that flights from the UK to Australia will soon all be non-stop. Second, aero-engines are becoming super-efficient, meaning lower fuel costs and less…
Readers may recall my reservation over buying Six Hundred Group (SIXH) in that the price was so low there had to be the possibility of a hidden horror. Well, this morning’s figures for the year ended 1st April 2017 put all that to bed. These results are very encouraging indeed. Tangible Net Asset Value is…
Since the financial crisis we have had a decade of virtually zero interest rates that has resulted in a high and potentially unsustainable level of global debt. This now stands at £168 trillion or 327% of world GDP, compared to 276% before the 2007 meltdown. The cheap and readily available liquidity has pushed up asset…
What does the composition of President Macron’s post-election government tell us about France’s likely reform programme? Were the four early resignations a sign of weakness or of strength? Is the young President in as strong a position as he looks? And, assuming things are going in the right direction, who will be the early winners…
Every now and then the sun breaks through: today’s Times reports that Tom Hayes’s case is to be reviewed by the Criminal Cases Review Commission. Just on the central points raised by The Times it is amazing to me that he was ever convicted let alone sentenced to a staggering fourteen years (subsequently reduced by…
On 12 May this year a virulent piece of ransomware was unleashed upon the globe by persons yet unknown. In the UK, hospital computers were rendered inoperable. Renault (EPA:RNO) was forced to shut down car production at some of its plants in France. Russian government websites went down. German railway station information panels were blanked…
One of the major challenges facing investors is how to generate an income return which beats inflation. This has been a problem since interest rates declined to historic lows following the financial crisis, but is now even tougher because of the rise in inflation. While interest rates could realistically edge upwards in future years, higher-yielding…
I was recently invited to a Conservative Party lunch hosted by the City and Westminster Tory Association. It was a jolly affair, with hundreds of well-oiled attendees, and despite the recent electoral setback, the mood appeared quite upbeat. Mrs May, to her credit given the recent events, made a formulaic speech that was well received,…
The FTSE-100 has been gliding around the stratospheric 7,500 level. So everything must be alright, then? Not necessarily. The FTSE-100 is powered by international market sentiment and the relative weakness of the Pound, which makes British blue chips look good value. Now confidence is on the wane. The Institute of Directors issued a report last…
