Geld Zug

Geldzug: WHEN YOU ARE IN A HOLE, THE FIRST THING TO DO IS STOP DIGGING

18 June 2018 It is difficult to begin solving a problem until you admit that the problem exists. One of the reasons that the GFC was so severe in the US was that US regulators had spent the previous decade or two ignoring the danger signs while they proclaimed the virtues of the free market and asserted that bankers’ self-interest was the best assurance that banks would not misbehave... [read more]

2018-06-19T19:02:35+00:00 June 19th, 2018|

Geldzug: IT’S NOT JUST THE PROFITS YOU MAKE – IT’S ALSO THE LOSSES YOU AVOID!

08 May 2018 The first principle of the ALPS Fund’s strategy is based on the fact that staying invested in equity markets over the long term produces very good returns – an average of 8.8% pa in the US since 1871, and slightly better in Australia over a shorter period. This is why, most of the time, the Fund owns shares in the Australian, US, and European markets... [read more]

2018-05-09T14:31:49+00:00 May 9th, 2018|

Geldzug: SWEET HOME CHICAGO BOE

2 Mar, 18 There are very few stocks that most fund managers would buy and hold for 10 years – with the notable exception of everyone’s darling, Berkshire Hathaway, which famously never ever pays a dividend (with no complaints from the shareholders!)... [read more]

2018-03-06T18:53:40+00:00 March 6th, 2018|

Geldzug: WILL TECH DISRUPTION DESTROY YOUR SHARE PORTFOLIO?

As we investors watch famous names in retailing crumble under the relentless assault of Amazon, we start to wonder, “Which sector will be the next to be disrupted?” Then we think, “Will the companies in my share portfolio survive all these changes?”... [read more]  

2018-04-18T12:14:25+00:00 January 17th, 2018|

Geldzug: A GREENER CHINA IS A SLOWER CHINA

2 Oct, 17 Anyone who has been to Beijing in winter knows how bad the air pollution is there. The same is true of many Chinese cities because, from the 1980s on, governments at all levels were focused on maximizing economic growth and job creation. The future careers of local officials were heavily determined by the GDP growth rates which they managed to achieve in the areas under their supervision... [read more]

2018-04-20T22:26:56+00:00 October 2nd, 2017|

Geldzug: CHINA CRACKS DOWN ON OVERSEAS INVESTMENTS

1 Sep 17, Since 2008 the Chinese government has had an official policy called chuqu, or “going out”, which encourages Chinese companies to expand overseas by means of building new assets and acquiring existing assets. The strategy of building new assets has been mostly successful, with some exceptions: CITIC’s Sino Iron project at Cape Preston, Western Australia, for example, opened four years late, has run 200% over budget, and is still not profitable... [read more]

2018-04-20T22:27:21+00:00 September 2nd, 2017|

Geldzug: THE CHINESE GOVERNMENT PLAYS SPOILSPORT

24 Aug, 17 Chinese banks and other lenders have enjoyed years of double-digit credit growth, but in March 2017 the authorities stopped the party, turned the lights on, and took away the alcohol. Abrupt changes in the leadership of the three main regulators (of banks, brokers and insurers) were followed by equally abrupt changes in regulatory style. Draconian new rules were issued and existing rules were enforced much more tightly... [read more]

2018-04-20T22:29:03+00:00 August 25th, 2017|

Geldzug: AN INTRODUCTION TO INDICES, ETFS AND BENCHMARKS

3 Jul, 17 SHARE MARKET INDICES The Dow Jones is one of the oldest share market indices and probably the best known. The Dow Jones Industrial Average (to give it its full name) was created in 1896 by Charles Dow and Edward Jones in order to give an aggregate picture of trading on the New York Stock Exchange. The Dow is currently owned and managed by a subsidiary of S&P Global, which also owns and manages the Standard & Poor’s indices. It is based on the share prices of its thirty constituent companies, which are selected by an arcane process. [...]

2018-04-20T22:29:38+00:00 July 3rd, 2017|

Geldzug: STOCK MARKETS ALWAYS LIVE IN THE PAST

15 Jun, 17 Way back in 1981, the writer William Gibson remarked “The future is already here – it’s just not very evenly distributed.” Investors tend to think of stock markets as predictive, but they are mostly the result of economic activity in the past. The largest sectors of a stock market are those which have done well in the past. They are made up of companies which have consistently made large profits and raised large amounts of capital. Investors have come to expect that these companies will keep making profits and paying dividends. But most companies don’t survive for [...]

2018-04-20T22:29:53+00:00 June 15th, 2017|
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