All Insights by Date
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23 September 2021, Mark Page
3 September 2021, Mark Page
Nobody wants their portfolio to be tossed around like an autumn leaf, driven by forces they don’t understand, with destination goodness knows where. This series will focus on the new ideas which helped us navigate some of the biggest market moves over the past 10-years.
9 July 2021, Mark Page
Half the world is predicting that US Treasury bond yields will rise sharply. A bystander might feel foolish for not seeing this. With bond yields falling sharply, it is no longer clear who the fools really are.
By March 2020 it had become clear that a vast wave of excess capital would be diverted into speculative assets including stocks.  Where is it headed and how might markets react? The current combination of degraded conventional economic yardsticks and the enhanced importance of storytelling in a low-r* world opens the possibility that people confuse dreams with unbiased forecasts. The Federal Reserve has chosen the lesser of two evils: a carefully judged shift towards NGDP-targeting as opposed to possibly entrenched deflation. Will stock investors respond? Will households and businesses keep believing? Western central banks’ ‘worst case’ scenario is spiralling inflation, unexpected and severe rate hikes, and deep recessions. The trouble is that the difference between their ‘base case’ and ‘worst case’ scenarios is largely irrelevant today.
12 January 2021, Mark Page
30 October 2020, Mark Page
18 September 2020, Mark Page
10 January 2020, Andrea Badelt
Financial regulators repeatedly warn of unfair practices in the retail investment space: high fees, price clustering, poor advice, low transparency, and what not. But nothing compares to real-life examples.
14 September 2021, Mark Page
This note reveals how standard UK investment fees can gobble up almost half your money every 20 years, and two thirds of your pension over an average working life. A hedge fund would not stand for this. Why should you?
Industry standard fees alone will typically erode 43% of portfolio value every 20-years*. Add poor performance into the equation and a saver’s long-term financial wellbeing can be severely damaged.
21 July 2021, Andrea Badelt
23 June 2021, Andrea Badelt
Behind the Curtains of the AM Industry #1 Markets, Economies & Asset Prices #1
We are delighted to share with you real-life examples of the parasitic creations we find sneaking around in the financial gloom, where they slowly eat your hard-earned savings and future happiness.
19 October 2021, Mark Page
Eriswell Capital Management Sneaky Financial Creation 2  FEE STACKING
28 October 2021, Mark Page
Until we change incentives long the entire ‘investment-production-consumption’ chain, we cannot expect to deliver anything close to the impact needed to combat climate change and other social problems
Photos by Ken Cheung, Anne Nygård, Marc Sendra Martorell, Rvoji Iwata , Kristina Four, Mark König, snowscat, krisna iv, Johannes Plenio, Sarah Kilian, Dimitry Grigoriev, Katie Moum; all on Unsplash
Markets, Economies & Asset Prices #2 Markets, Economies & Asset Prices #3 Markets, Economies & Asset Prices #4 Markets, Economies & Asset Prices #5 Behind the Curtains of the AM Industry #2 Markets, Economies & Asset Prices #6 Behind the Curtains of the AM Industry:  Sneaky Financial Creatons: #1 Markets, Economies & Asset Prices #7 Behind the Curtains of the AM Industry:  Sneaky Financial Creatons: #2 Markets, Economies & Asset Prices #8
With current high valuations, care should be exercised when listening to those rocking up late to the equity party, just as the band is packing up to go home.
Buying an active fund is worse than paying someone to play Roulette with your life savings. The data is clear: It tells a story of saver wealth destruction.
18 November 2021, Mark Page
Behind the Curtains  of the AM Industry:
11 January 2022, Mark Page
Can ESG investors help heal the world’s social and climate ills? Can they even identify companies moving towards a distant and desirable equilibrium? And do you trust them?
Eriswell  Capital Management