Back to regular programming this week after a brief and much-needed disconnect from markets. We were on holiday in June exploring some of Vietnam’s coastal cities. A personal highlight was a rare sighting of the endangered red-shanked doucs on the Son Tra Peninsula in Da Nang (video below). The Douc Langur Foundation has been working […]
Author: offpisteblog
Readings For The Week (31/5)
May turned out to be a strong month for stocks. I am not sure what to make of the swift recovery, but FT columnist Rob Armstrong coined the term ‘Taco trade’ (Trump Always Chickens Out) to explain recent investor conditioning. Amusingly, Trump was then asked about this by a journalist and he really did not […]
Geoff Oldfield (Ennismore)
Interesting conversation with Geoff Oldfield, the founder of Ennismore Fund Management. He set up the firm with Gerhard Schöningh in 1998 to invest primarily in smaller capitalisation European companies. The European fund has returned ~12.5% p.a. since inception, with no leverage and average net exposure below 50%. In 2016, the firm also launched a global […]
Readings For The Week (3/5)
This week’s links include Horizon Kinetics’ Q1 2025 market commentary, Jim Grant and Evan Lorenz in conversation with First Eagle’s Matthew McLennan, an interview with Ennismore’s Richard Stuckey, WNN on China’s approval of ten new nuclear reactors, Robert Skidelsky revisits Keynes’ bancor proposal and FT Alphaville on the asset-liability mismatch of Taiwanese life insurers. Horizon […]
Readings For The Week (20/4)
This week’s links include Bloomberg on Vietnam’s sand shortage, Baker Steel on the outlook for gold miners, a profile of investor Graham Duncan, Reuters on plans for Vietnam’s Ministry of Public Security to take a majority stake in FPT Telecom, 3D Investment Partners’ presentation on the issues facing NSSOL in its efforts to maximize corporate […]
Readings For The Week (12/4)
What a week in the financial markets! Given the considerable number of unknowns, there isn’t really much for me to comment on at this point. I do think the setup for gold remains attractive, and I would be surprised if we were not at US$4k/oz by end of year. I will also spare readers from […]
Readings For The Week (6/4)
This week’s links include the FT on Jardine Matheson charting a new course, a rare interview with Ashmore’s Mark Coombs, the Webb-site on Trump’s tariff own goal, Jim Mellon in conversation with Wilfred Frost, Ascender Capital’s webinar on opportunities in the Japanese software sector and Burford Capital’s 2025 investor day. FT: Jardine Matheson, giant of […]
Readings For The Week (29/3)
It has been a while since my last post! Work has been rather busy, but I have also been on the road for a couple of weeks, with recent trips to London and HK. It was wonderful to catch up with old friends in both cities, including some readers of this blog. Long flights also […]
Jonathan Shih (Coral Capital Podcast)
The Coral Capital podcast recently hosted an interesting conversation with Jonathan Shih, the founder of Keyrock Capital Management. His firm is an active investor in Japan across public and private markets. He discusses Japan’s overlooked growth potential and how this came to be a key area of focus for the firm, some considerations for private […]
Readings For The Week (22/2)
This week’s links include 3D Investment Partners’ open letter to the Sapporo board, DHT CEO Svein Moxnes Harfjeld discusses his outlook for the tanker market, Arnott Capital’s 2024 annual investor letter, RIT Capital’s 2024 investor webinar, Paul Marshall on UK and European energy policy, and Kevin Kelly’s 50 years of travel tips. 3D Investment Partners: […]