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This is the home of Hawksmoor's Research Department. Here you will find our latest articles, blogs, and presentations.

INNOVATION

Innovation is a weekly financial markets blog written by Jim Wood-Smith, CIO Private Clients.
13
AUG
ABSOLUTE NONSENSE
In a way it would have been nice not to start with Boris this week. But if someone keeps bowling half volleys it is rude not to dispatch them to the boundary. Anyway, Boris's leadership bid is well underway. Having opened last week with the race card, he is now onto the old 'crisis' trick. It is a tried and trusted bit of skullduggery: to identify a crisis that doesn't exist, tell everybody that it definitely is a crisis and then how brilliant you were in solving something that never needed solving in the first place.

06
AUG
NO REGRETS
It is all too easy to fill ones life with regrets. Never being one to turn down a mixed metaphor, spilled milk should be water under the bridge. As we all found out last week, had we invested $100 in Apple when it first floated in 1980 we would now be rich enough to own a medium-sized country. Given that you are currently reading a column I wrote, the chances are neither of us did and you are not being hand-fed caviar on your Caribbean gin palace. Good job, it would be ghastly.

30
JUL
TIME AND RELATIVE DIMENSION IN SPACE
A hard rain has fallen. A stiff wind has blown. Despite my best endeavours, the agapanthuses are looking much the worse for wear after the weekend. Still, we all wished for rain so we can hardly complain about the reminder of how miserable wet weather actually is.

23
JUL
HOLIDAY
Ah, late July and the start of the school holidays. The time when the country tilts under the weight of those stationing themselves in the south west between now and the end of August. Slots on the A30, Watergate Bay and all eighty-seven of Rick Steins restaurants are available by cancellation only.

16
JUL
A NAGA IN THE TIKKA MASALA
Time was. This is becoming a regular opening for Innovation. As much as we all tend to hanker after the hungry years, I am not sure that too much nostalgia is healthy. But time was when this was the most exciting week of the year. The Open. There was always something unique about the four days of terribly dressed gentlemen hitting a little white ball around British sand dunes to polite applause. Different times.

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THEMATIC RESEARCH

A collection of "bite-sized" research articles exploring a variety of investment themes and opportunities.

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JARGON BUSTING

The investment world loves a flutter of jargon. It makes commentators sound ever so clever.
Yet behind this flamboyant lexicon are often some fairly simple, easy-to-grasp concepts.
Here is a collection of articles seeking to extract the crux from the complex, the idea from the over-engineered.
Alpha & Beta Behavioural Finance Bull & Bear Markets
Contango & Backwardation Contingent Convertible Bonds Correlation
Cyclically Adjusted P/E Ratio Diversification Duration
Enterprise Value Gearing Hedging
High Frequency Trading P/E vs. P/B Put & Call Options
Risk Share Buybacks Sharpe Ratios
Short Selling / Stock Lending Smart Beta Structured Products
Tracking Error Value at Risk

UNDERNEATH THE ARCHES

Underneath the Arches is our quarterly newsletter for private clients, in which we attempt to explain what has happened in investment markets in recent months and to lay out our expectations for the future.




"As ever, we sing the virtues of quality, diversification and, wherever possible, value with a margin of safety."

-- JIM WOOD-SMITH

ABOUT US

Hawksmoor Research

Hawksmoor specializes in providing high quality discretionary portfolio management. The Research Department, supported by Hawksmoor's Fund Management Team, oversees our investment process and the stocks, bonds and funds that we include in our portfolios.

It is a virtue of our size that we do not have to have an off-the-shelf view on every investment in the universe. Our process is highly targeted: we are snipers rather than having analytical armies. Instead we concentrate our efforts on identifying the very best stocks, bonds and funds for our portfolios.

Nor do we worry about the composition of stock market indices, believing that size is no guarantee of quality, and we like to think thematically rather than over-analysing shorter-term market noise. Our focus is on blending quality, value and momentum, to identify attractive investments for our clients.

To find out more about Hawksmoor, please click here.


JIM WOOD-SMITH
CIO Private Clients


IAN WOOLLEY, CFA
Senior Investment Analyst


JAMES CLARK
Fund Analyst


Health Warning / Disclaimer

This document should not be interpreted as investment advice for which you should consult your independent financial adviser. The information and opinions it contains have been compiled or arrived at from sources believed to be reliable at the time and are given in good faith, but no representation is made as to their accuracy, completeness or correctness. Any opinion expressed, whether in general or both on the performance of individual securities and in a wider economic context, represents the views of Hawksmoor at the time of preparation. They are subject to change. Past performance is not a guide to future performance.

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