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With inflation, taxes, strikes, political discontent, and gold soaring, it feels like the 1970s, except no one is wearing flares. I mention it because the 10-year bond yield is rising again, which means the price of bonds is falling in what could turn out to be the sixth downturn for

Trade in Whisky; Last week, I wrote about China, and the key takeaway is that China has been allocating, in some cases misallocating, vast amounts of capital for a very long time. We have all seen the ghost developments, bridges, dams and high-speed rail. Much of it is impressive, and

Two weeks ago, the People’s Bank of China launched a stimulus package to boost the economy in order to counter the slowdown associated with the property sector, weak consumption, and excessive debt. They cut interest rates, reduced the reserve requirements for the banks, and lowered borrowing costs for $5.

I have long been a fan of investment trusts (ITs) for long-term investors. They are ideal, as they provide the fund manager with a fixed pool of capital, freeing them of distractions from the daily buying and selling of fund units, which is seen in unit trusts and other open-ended

Trades in Whisky; No one harps on about Bitcoin and gold more than yours truly. I have been hooked on gold since 1999, having attended a conference where I heard John Hathaway from Tocqueville Asset Management (now Sprott) speak on the subject. Gold had been off the radar for 20

Later today, the Federal Reserve will cut interest rates for the first time since 2020. In recent days, the odds of a 0.5% cut have increased significantly, so the thought is it’s at least 0.25%. The market has been waiting for this for a year, and as