Oct 05
SRS Saves Tax. But What Does It Commit?
Looking beyond the tax saving to the cash you still need to set aside.
6 min read
Perspectives
Short reflections on markets, investor behaviour, and the ideas behind long-term decision making. These pieces explore how we interpret information, frame risk, and think about ownership in an uncertain world.
Sep 23
The Price Is Falling. Now What?
What three investment cases reveal about looking past the price.
9 min read
Sep 09
Nike Is the Headline. The Reshuffle Is the Story.
Taken together, the reshuffle tells us more about how the market has been priced than about which of these businesses are better. That is what an index is built to show.
7 min read
Aug 23
Reading Peter Lynch Again, From the Other Side of Research
Ten lessons from a new foreword, seen differently further along the investing journey.
10 min read
Jul 17
What Does It Actually Mean?
I realised that every time I thought I had found another useful metric, it simply led me back to another question. Not about the metric itself. But about what it was really attempting to describe.
5 min read
Jul 08
A Matter of Prediction and Conviction
A prediction is what an investor believes will happen. Conviction is how much they are willing to stake on being right, and how long they can hold that stake when the market disagrees. The two sit on different axes.
6 min read
Jun 29
When Numbers Create the Wrong Picture
The problem is what happens when context disappears.
Percentages without scale. Samples without populations.
Growth rates without starting values. Headlines without denominators.
6 min read