Research

BEWARE THE IPOs OF SPRING

22 Feb 2014

"It has never struck me as particularly hard to figure out that private equity looks very much like public equity plus leverage minus a shed load of costs” James Montier...

Research

SHALE GAS ECONCOMICS

22 Feb 2014

“Shale is important for our country.  It could bring 74,00 jobs, over £3bn of investment, give us cheaper energy for the future and increase our energy security.  I want us...

Research

SUBMERGING MARKETS

22 Feb 2014

The US seeking a higher return. While capital flowing into economies is usually considered a good thing it is in many way damaging for emerging economies. The principal problem is...

Research

UPDATING EUROPEAN AUSTERITY

22 Feb 2014

In his book “Boomerang” Michael Lewis posed this question: “The question everyone wants an answer to is: Will Greece default? There’s a school of thought that says they have no...

Chairman's Notes

CREATIVE DESTRUCTION

22 Feb 2014

Subsistence farming has transformed the lives of hundreds of millions of Chinese people. This process is getting stale in China but will be replicated in other populous nations. Brazil and...