2024

We’ve had easier afternoons in front of our broker’s trading screen…

The best businesses can be too good to stay that way. Blessed with superb economics and seemingly-impregnable market positions, anyone would want to own their quality but for two recurring problems: Valuation – Unless the company or its sector is new (think Google-owner Alphabet on listing in 2004) or there is some kind of crisis (as [...]

What caught my eye this week. Just 26 sleeps to go until the new government’s first Budget on Wednesday 30 October. And I cannot recall there ever being so much pre-match jitters. I could have filled the links below with forecasts, evasive action tips, and threats to emigrate. Hardly what anyone would call a honeymoon [...]