Research

BITCOINS

12 Dec 2013

There has been continuing press coverage and heightened interest in the currency alternative known as “Bitcoins”. A Bitcoin is a virtual currency – there are no actual notes or coins....

Research

MEAN REVERSION

10 Dec 2013

"Contrariwise," continued Tweedledee, "if it was so, it might be; and if it were so, it would be; but as it isn't, it ain't. That's logic." Lewis Carroll Through the...

News

RECENT TRADING

10 Dec 2013

We entered 2013 with an investment strategy that preferred developed equity markets (particularly UK and US and smaller companies) and an aversion to all sovereign debt and emerging market equity....

Research

THE MAKINGS OF A MODERN BANKER

10 Dec 2013

It is with head-shaking astonishment that we read of the growing scandal surrounding the Co-operative Group, its management and its disastrous acquisition of the Britannia Building Society. We have no...