Valuation

Sometimes it’s hard to keep up. For weeks and weeks, everything was locked down, it was easy to know what was going on: baking, Netflix and yoga. Now, it’s all change, hence revved up economists talking about the intoxicating cocktail of monetary and fiscal stimulus and the unlikely post-recession starting point of surging consumer net… Read More Valuation

Cans

“There is a bubble” he tutted; valuations are “crazy”, assets “too scarce”. It could be any analyst or investor talking about everything from cryptocurrency, to software companies, to loss making IPOs; but it was in fact the CEO of oil super major Total, Patrick Pouyanne, talking to a wide-eyed FT analyst about the frenzied buying… Read More Cans

Conferences

A photo popped up on Twitter last week of Cancun airport. Now maybe Subway had a special two-for-one deal that caught the mood, but the sight of a crammed concourse is likely to send a shiver down the spine of bond holders sitting on yields of next to nothing. The much vaunted ‘pent up demand’… Read More Conferences

Inflation

Big name economists continue to scramble to upgrade their GDP forecasts citing soon-to-be-arriving job gains, ‘monster’ savings, pent-up demand and – coming to a state near you – another package of massive fiscal stimulus complete with a Biden bow. Albeit, perhaps, it being less about stimulus and more about getting everyone through the endless winter… Read More Inflation

Gaming

The reaction to the results of Electronic Arts, the second largest gaming company in America, were somewhat perplexing for those who read the full release. The results were good, with some significant developments, and yet, the shares fell; a function, perhaps, of near-term expectations getting a little too hot under the collar. Bar the souped-up… Read More Gaming

Earnings

It’s amazing how quickly the narrative changes. The sell-off last week was accompanied by cat calls in the media as the sharp suits of Wall Street got their pips squeezed. Cue many articles about the rising influence of stay-at-home day traders throwing down chips into a casino-like market. It all got a little Wild West.… Read More Earnings