Opinion

Over the long term, UK equities could hold up if the US suffers a protracted correction to high valuations – but we mustn't bet much on this.

A new fund structure seems like an odd priority for the industry

A sustained rise in bond yields could finally cause value stocks to outperform growth.

Interest rate rises have only small effects on the economy. Uncertainty about rates, however, is also damaging.

A pandemic, a climate crisis, the need to level up, and Brexit make this chancellorship unique

It’s what can’t readily be seen that often drives share prices

Strap in for a wild ride

The pandemic should remind us that our decisions are the outcome not of independent calculation but rather of social forces.

Neither judgment nor futurology can protect us from the huge losses that happen when bubbles deflate. Instead, we need an exit strategy.

Recent months have reminded us that gold doesn't protect us from inflation scares. Better protection might be humble cash.