WELCOME TO HAWKSMOOR RESEARCH

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.
18
SEP
UNTIL THEY THINK WARM DAYS WILL NEVER CEASE
hank you for asking, the gargleblasters were copious, the Thai weather unseasonably sunny. I am now, though, inhabiting a personal microclimate, an unseasonable snowstorm of flaking suntan. This is Freshers Week, the schools are long since back and the autumn mists have started with a deceptive beauty. The remaining sunshine is beguilingly warm, fooling us into thinking that perhaps autumn and winter are not on their way. Oh but they are.

21
AUG
IT IS FRONKONSTEEN
The news has broken this morning that yet another investment behemoth is in the making. The dalliance between Rathbones and Smith & Williamson has been an open secret for yonks and we now wish them well. It gives a lovely opportunity this morning to run through the disadvantages of monstrous size and why the opportunity exists for those who believe that there is a better way.

15
AUG
HOW I LEARNED TO STOP WORRYING AND LOVE THE BOMB
It is deepest August. In this modern world of the technological revolution you can tell the date simply by the number of out of office replies you get to an email. Nobody is really very bothered about the markets at the moment; traffic jams and immigration queues are much more the order of the day.

31
JUL
DIVIDEND DISRUPTION
Until last week I confess I was unaware of the importance of Anthony Scaramucci. As I guess was most of the rest of the world outside the White House. Now, however, the name of President Trump's current communications director is as familiar as the tri-nippled Scaramanga. Or a line from Bohemian Rhapsody.

24
JUL
POWER TO THE PEOPLE
Last Friday nearly 9,000 planes flew in or out of the UK. None of them drove into each other. Hats off to NATS. Now I do not want to be scary, sometimes it just happens and is quite fun, but should we not just stop for a minute and wonder what might happen if air traffic control lost power? Or got a ransom message on its desktops asking for 300 bitcoins to be wired somewhere in the very dark web? Or if an engineer pulled the wrong plug out in its data centre?

17
JUL
A TREAT BUT NOT AN EXTRAVAGANCE
HS2 is actually going to happen. Allegedly. The naysayers who suggested that the best way to get to Birmingham half an hour quicker was to catch an earlier train can now wash out their mouths with carbolic soap. The trains will be fast, non-stop and will go under the Rothschild's estate rather than straight through it.

Archive:

THEMATIC RESEARCH

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

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Through Hawksmoor's AIM Portfolio Service, our clients invest in growing UK smaller companies, and potentially reduce their inheritance tax.
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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.




"Our fear is that markets are being seduced by long blonde hair, a wiggle of the hips and a bowl of Ready Brek."

-- 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.

Hawksmoor Investment Management Limited is authorised and regulated by the Financial Conduct Authority, is registered in England No. 472929, and its registered office is at 2nd Floor, Stratus House, Emperors way, Exeter Business Park, Exeter EX1 3QS.


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