12AUG 2019

Investment Warnings: First came ‘cov-lite’, now it’s ‘doc-lite’

We keep a folder of ‘red-flag market indicators’ – developments that make us very uneasy indeed – and the latest one is the casual attitude some investors are displaying towards seeing crucial company documents



08FEB 2019


Why investors should beware increasingly unforgiving debt markets

The pick-up in bankruptcy activity in the US towards the end of last year could be just a taste of tougher times ahead for businesses should interest rates rise or the economy soften

05FEB 2019


How value can help prepare for the ‘Brexit test’ – whatever it may be

How we have been preparing our portfolios for whatever Brexit brings has, unsurprisingly, been a question we have fielded with increasing regularity in recent months and years, here on The Value Perspective


29JAN 2019


Beware the growing levels of debt just one step above ‘junk’

The proportion of corporate bonds rated just one step above so-called ‘junk’ status is reaching ever higher levels, which is potentially a huge problem for investors as and when the next recession hits



09NOV 2018


Expensive businesses + high debt = cause for concern

Expensive businesses with above-average debt are rarely the ingredients from which to make a successful long-term investment and yet that is just the combination that have been leading the US bull market


17SEP 2018


Lessons from the financial crisis have not been learned

When interest rates are so low and tolerance for debt so high, the chances are that someone somewhere is borrowing too much – and you only have to look back a decade to see the potential consequences


05JUL 2018


How Carpetright is looking to cover one big flaw

Carpetright’s store leases were a serious issue for the business back in 2014 and the terms of a new agreement with its creditors suggest they are likely to continue being so


19JUN 2018


Market perceptions can be slow to catch up with reality

The way the state of large company pension schemes tends to be reported is a reminder that investors should consider a business’s financial health through a cycle rather than at peaks and troughs