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This is the home of Hawksmoor's Research Department. Here you will find our latest articles, blogs, and presentations.
Innovation is a weekly financial markets blog written by Jim Wood-Smith, CIO Private Clients.
This weeks opening topic has been tough. The decision has been whether my thoughts on Piers Morgan or Theresa May would be of greater interest. On balance, Pointless Celebrities is likely to be less market-sensitive than the election. So lets get this ridiculous election out of the way at the outset
ong-suffering readers know of my occasional propensity to share my life in the lines of Innovation. Please bear with me today, as this is one of those 'interesting' weeks. On Wednesday my octogenarian mother finally downsizes from the Thames Valley and moves to Cornwall. 230 miles and three and a quarter years later and she has caught up with me.
THREE WHEELS ON MY WAGON
There is something just a little odd coming into the office on a Monday of unbroken blue skies. This should still be part of the weekend, not the final five days before the end of the quarter. We ought to be pruning the roses, hacking the buddleias and trimming the edges of the lawns. Instead it is time to ponder whether Congress will frustrate all of Trump's plans and whether the US government will run out of money at the end of April.
A very happy vernal equinox to one and all. The fog, gales and driving rain on Bodmin Moor this morning left no doubt that today is indeed the first day of astronomical spring. It is also, so I have discovered, International Day of Happiness. Especially for ducks.
A TONGUE, SHRILLER THAN ALL THE MUSIC
We can get this bit out of the way at the outset. The Federal Reserve is going to raise the cost of American borrowing on Wednesday, which so happens to be the Ides of March. The markets though are not so much beware of the soothsayer as thinking they are Crocodile Dundee. It is Caesar saying to Brutus, ″That's not a knife. That's a
IN DEFENCE OF ACTIVISM
One of the more important lessons to learn in investment management is that you are not the repository of all intelligence. I have long cited my greatest influences as being Warren Buffet and Eric Idle; it pains me greatly that one of these has faded into increasingly acrimonious irrelevance and fails to recognize his declining powers of perception.
27 February 2017 - 30 seconds closer to midnight
20 February 2017 - Tomato sauce for the goose and ketchup for the gander
13 February 2017 - And if the dam breaks open many years too soon
30 January 2017 - The Midas touch
30 January 2017 - A turkey's best friend
23 January 2017 - This is it boys, this is war
16 January 2017 - The boys are back in town
12 December 2016 - That is not logical captain
21 November 2016 - Smile for a while and let us be jolly
14 November 2016 - Five days later
7 November 2016 - Well we know where we're going
31 October 2016 - This blessed plot
24 October 2016 - Deja vu
17 October 2016 - The lesson of Glastonbury and Wells
10 October 2016 - You can't have one without the other
3 October 2016 - Irony and morirony
26 September 2016 - What are we going to do now
19 September 2016 - Spinning around
12 September 2016 - Trump by the backdoor
5 September 2016 - I feel the earth move
22 August 2016 - Kid Charlemagne
15 August 2016 - The meadow pipits
8 August 2016 - Prisoners of our own device
1 August 2016 - The art of asking questions
25 July 2016 - And the beat goes on
18 July 2016 - Do you remember
11 July 2016 - Get yer trousers on, you're nicked
27 June 2016 - Children of the revolution
24 June 2016 - Out
20 June 2016 - Ell oh ell ay
13 June 2016 - 42 no longer
6 June 2016 - Edging ahead
23 May 2016 - Just deserts
16 May 2016 - The second sentence
9 May 2016 - Eating greens is a special treat
25 April 2016 - It is not in the stars to hold our destiny
4 April 2016 - They are 'aving a larf
21 March 2016 - Got to get across to the other side of town
14 March 2016 - As flies to wanton boys
7 March 2016 - The big red button
29 February 2016 - Come with me and escape
22 February 2016 - It's all about EU
15 February 2016 - They stab it with their steely knives
8 February 2016 - Everybody's so different, I haven't changed
1 February 2016 - Let's Facebook the music and dance
25 January 2016 - Brown paper packages tied up with string
18 January 2016 - Chiquito tell me what's wrong
11 January 2016 - Simply irresistible
4 January 2016 - Laugh about it shout about it
14 December 2015 - Better get a bucket
23 November 2015 - Turkey time
16 November 2015 - Warning signs
9 November 2015 - Woof woof
2 November 2015 - Hotter than July
26 October 2015 - Preaching to the converted
19 October 2015 - Counting out time
12 October 2015 - The first cut is the cheapest
5 October 2015 - Ever decreasing circles
28 September 2015 - This is the voice of the mysterons
21 September 2015 - Cruel to be kind
14 September 2015 - Great boos up
7 September 2015 - Thats got that off my chest
24 August 2015 - Opporunity Knocks
17 August 2015 - A chinese chunter
10 August 2015 - A celebration of diversity
3 August 2015 - En attendant Godot
27 July 2015 - Take a ride in the sky
20 July 2015 - A rare beast
13 July 2015 - Only losers
6 July 2015 - Pyrrhus revisited
29 June 2015 - Onychomycosis Fatalis
22 June 2015 - Pots, Kettles and Greek Urns
15 June 2015 - Baby bear's poisoned porridge
8 June 2015 - We are also out of coffee
1 June 2015 - Power, Perspective, and Parochialism
18 May 2015 - And then there were three
11 May 2015 - How does it feel?
27 April 2015 - The English Way
20 April 2015 - China in your hand
13 April 2015 - Not on my watch
30 March 2015 - Selling Britain by the pound
9 March 2015 - Is it down the lake I fear?
2 March 2015 - Missing Marlene
23 February 2015 - Dedication is what you need
16 February 2015 - I'll play a provisional
9 February 2015 - And after all
2 February 2015 - When is a door not a door?
26 January 2015 - When marimba rhythms start to play
19 January 2015 - Cuckoo
12 January 2015 - Sterling lessons
5 January 2015 - Paula Radcliffe's Navel
15 December 2014 - A world of my own
17 November 2014 - Wrong and right
10 November 2014 - Stopping at Delamere
3 November 2014 - Quasimodo
27 October 2014 - A celebration of diversity
20 October 2014 - About time too
13 October 2014 - Slip sliding away
6 October 2014 - A dog with no teeth
29 September 2014 - The biscuit burglars
22 September 2014 - Coming clean
15 September 2014 - Aye'll take the high road
8 September 2014 - Swansong
1 September 2014 - Dougal's perspective
18 August 2014 - Flip flops
11 August 2014 - Forever and ever
4 August 2014 - Rage against the machines
28 July 2014 - Optical illusion
21 July 2014 - What's up doc?
14 July 2014 - A harvest moon in July
7 July 2014 - Oops upside your head
30 June 2014 - Heresey
23 June 2014 - Half a page of scribbled lines
16 June 2014 - Sunset boulevard
9 June 2014 - Suits you sir
2 June 2014 - Something in the way he moves
19 May 2014 - 250 tears
13 May 2014 - Quackers
28 April 2014 - A right caper
14 April 2014 - Glorious inconsistency
7 April 2014 - Handy Andy
31 March 2014 - Smoke of a distant pyre
24 March 2014 - Splitters
17 March 2014 - Brimstones and histamine
10 March 2014 - Happy Anniversary
3 March 2014 - Marching on
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.
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.
"Long experience is telling us that this is classically the last stage of a very long-lived equity bull market."
-- JIM WOOD-SMITH
The complete slide pack from our most recent client seminars and roadshows.
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.
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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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