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War, Gold and BOLD

There are renewed tensions in the Middle East between Israel and Iran. Many investors are wondering why financial markets have taken it so calmly. Stockmarkets have barely budged. Gold rose slightly, and the oil price is still what many would describe as cheap. Perhaps it’s complacency, driven by a

China, Canada and France

Firstly, I would like to thank Russell Napier for joining us on the webinar last week. He was adamant that it had to sit behind the paywall because AI is plagiarising his business. That’s not just him, as the advertising industry has been negatively impacted as well, which we

The ByteTree Broker Survey 2025

The ByteTree Broker Survey 2025

ByteTree clients often ask me, Which is the best broker? There are many “brokers” where you can buy and sell equities, bonds and funds in the UK, and many more in Europe and beyond. I don’t think anyone knows which is the best for two reasons. The first is

In Discussion with Professor Russell Napier

Trade in Whisky; It was a pleasure to join Russell Napier in conversation this morning in a webinar joined by many ByteTree clients. We were unable to make it public because Russell is fed up with plagiarism from AI, so we agreed to put it behind the paywall. For those

The Forgotten Markets

Trade in Soda; The stockmarket indices and their funds are great financial innovations, but, as I have said many times, they cause major distortions in markets. When an allocation such as the S&P 500 becomes too popular, it feeds on itself or, as George Soros would call it,

Bond Yields in The Danger Zone

The Portfolios have recovered well, which is welcome news, but just as the storm caused by tariffs has passed, a new one brews. Bond yields are rising again, which explains the strength in Value stocks (industrials and financials) and the weakness in Quality (consumer brands). It also explains the resurgence

USA Rebounds

Trades in Whisky; In a recent turn of events, we have seen the dollar bounce and the US stockmarket along with it. The US Magnificent 7 (Mag 7) large tech stocks (Apple, Google, etc.) have resumed a short-term uptrend against the world index, something which was last seen in January.