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Trade in Whisky; The Money Map helps us understand what types of asset work best in different environments. If you can predict where inflation and bond yields are headed, which isn’t always easy, then the Money Map tells you where to invest. And more importantly, where not to invest.

Trade in Soda; One of the mysteries of 2023 is why it is taking so long for the economy to slow following the aggressive monetary tightening. We have discussed this from various angles, but the Goldman Sachs US Financial Conditions Index caught my attention. It shows how conditions have tightened

Trade in Whisky; Back in 2006, I attended a lunch presentation with Arjun Murti, the Goldman Sachs oil analyst who coined the phrase “super spike”. I followed him closely, and needed to, because our oil guy at HSBC Asset Management was still forecasting $25 per barrel on the basis that

Trade in Whisky; A characteristic of 2023 is how the risk-averse funds have lost money while the stockmarket has roared away, at least parts of it. These fund managers, with absolute return mandates, see dark times ahead and have been positioned for a bear market. It hasn’t come, at

This week we review the Ruffer Investment Company (RICA). But before we do, I was very satisfied with last week’s review of the Capital Gearing Trust (CGT), which ended with a discussion with the co-manager, Chris Clothier. He answered your questions clearly and confirmed that they have a resilient