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April 2022 Background April saw more of the same. The war in Ukraine continues with Russia giving up on its initial aim of taking Kyiv...

March 2022 Background The war in Ukraine grinds on, with Russia finding the going far more challenging than it anticipated. The...

February 2022 Background Difficult times! The build-up of Russian hostility and eventual invasion of Ukraine on the 24th dominated...

Richmond Park - January 2022 January 2022 Background The markets and the JIC Portfolios got off to a poor start to 2022. The Federal...

December 2021 Background At its December meeting, the Federal Reserve announced a tightening of monetary policy in response to higher and...

November 2021 Is the current spike in inflation transitory or not? That is the question currently occupying investors. The market is...

October 2021 Background In October, the balance of people believing that the current uptick in inflation would prove transitory fell. Not...

September 2021 Background Equity market volatility picked up during September. Markets are having a crisis of confidence as suddenly...

Wingstop - A new position in the Smithson Investment Trust

Derbyshire - July 30th 2021 Background Despite higher inflation, bond markets continued to rally. In the US, the 10 Year Treasury fell to...

June 2021 Background At its monthly meeting, the Federal Reserve subtly changed its message about the future path of interest rates. It...

Background Inflation was the topic of the month. Anecdotal evidence and hard data showed that inflation was picking up as economies...

Background A good month for financial markets with increasing optimism about the strength of the economic recovery: the success of...

I can't complain about March's performance. It completed a remarkable year in which the portfolio more than doubled from its March 2020 low

February 2021: Not a bad month for both portfolios

Both portfolios up, just! Background Trump went, Biden arrived. January got off to a good start before fizzling out in the last few days....

December 2020 Background There were some incredible returns in 2020, especially from across the Atlantic. The NASDAQ ended the year up...