Investment Insights

What Goes Up Must Come Down: Must It Not?

Nick Train

I’ve just read Howard Marks’ book – “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”. Marks is chairman and co-founder of Oaktree Capital, a recently-listed $6bn market cap US investment management company.

Indian Takeaway

Michael Lindsell

I have recently been on holiday to India - in Rajistan visiting forts, temples, villages and crowded cities but in the process learned a lot more about the country. My interest was more than idle curiosity for it posed two important investment questions, both pertinent to our global portfolio.

Something for Nothing?

James Bullock

I recently returned from a revealing trip to San Francisco, home to Morgan Stanley’s annual TMT conference and presentations from 200 of America’s top technology companies.

Surprises In 2011

Nick Train

‘Tis that season of year – a flood of New Year predictions from strategists and talking heads, as traditional as Christmas cracker mottoes and about as memorable.

Seven Pillars of Wisdom

Nick Train

A friend asked my advice about his financial affairs, having recently come into a pot of capital. My first thought – which indeed I acted on - was to direct him toward the capable hands of any of Lindsell Train’s valued counterparties in the Private Wealth Management industry.

More Observations on Japan

Michael Lindsell

Following a recent visit we introduce, reiterate and reinforce some views on Japan three months on from the earthquake.

Nintendo

Michael Lindsell

“Nintendo dealt a blow to rivals last week by unveiling its groundbreaking new console. Gamers will be spellbound by the possibilities.” Sunday Times, 12th June 2011.

Are We Heading For a New Tech Bubble?

Nick Train

LinkedIn’s May 2011 public offer displayed the unmistakable symptoms of financial exuberance and has prompted a flurry of concerned articles debating the above question. Our considered response is: yes, we are most likely headed toward another such bubble.

Events, Dear Boy, Events

Nick Train

The brutality of recent events makes it hard to know what is “really” going on in markets– i.e. what level securities would be without Japan and the Arab Uprising. But we have to assume conditions in the investment markets will eventually return to normal.

Observations From Japan

Michael Lindsell

Following a recent visit to Japan, I provide below some observations that may hold lessons, or indeed implications, for the economies and markets in the West, particularly in respect of the banking sector.

Just Another Merger Monday

Nick Train

I am coming to the conclusion that the FT’s Lex Column is written for, or perhaps even by, hedge fund managers and investment bankers alone. Possibly this is the FT’s chosen or actual constituency – in which case, fair enough. But for this reader the result is sometimes the column misses the point and by a country mile.

An Oblique Approach

Michael Lindsell

On my recent trip to Japan I finished reading John Kay’s newly published book ‘Obliquity’, which has some useful insights into how we achieve our objectives in all aspects of life but with particular relevance to business. In it he contends that most of what we do, whether personal, professional or corporate, is often best pursued indirectly or obliquely.