19JUN 2018

Market perceptions can be slow to catch up with reality

The way the state of large company pension schemes tends to be reported is a reminder that investors should consider a business’s financial health through a cycle rather than at peaks and troughs



20OCT 2017


If bitcoin isn’t a bubble, it’s a spookily good impression

Our chart comparing bitcoin’s price movements with a classic market bubble should be enough to test the ‘leap of faith’ currently being taken by the herds of investors entering the cryptocurrency market


29AUG 2017


What you pay, not the growth you get, is the biggest driver of future returns

Investment can be as prone to trends as any other area of life so, to illustrate our confidence that value stands the test of time, we will occasionally republish old Value Perspective articles. This one is from January 2013

03AUG 2017


If you can’t find bargain shares, you aren’t looking hard enough

Markets’ time-honoured custom of selling whole sectors off indiscriminately mean investors who are willing to put in the work should always be able to find high-level businesses at bargain-basement prices