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30APR 2019

How can you plausibly value a ‘unicorn’ business?

A recent cartoon in the FT suggested valuing so-called ‘unicorn’ businesses was simply a matter of thinking of a number – which, given our broadly downbeat view of floatations, seems as plausible a method as any

2018

MARCH

01MAR 2018

Blog

Analysts’ enthusiasm for a stock may not match its returns

A simple experiment by a stockbroker that tracked how analyst recommendations fared over the course of 2017 once again underlines why investors are better off doing their own company research

FEBRUARY

20FEB 2018

Blog

Investment Red Flag Watch: Why we’re worried about the return of ‘SPAC’

We keep a folder of ‘red-flag market indicators’ – developments that make us very uneasy indeed – and one of them is the return of the so-called ‘special purpose acquisition company’

JANUARY

12JAN 2018

Blog

It is impossible to assess a share without reference to its price

Everybody’s investments go up and down in price and, whenever one of ours goes down, we will take a long-term view on its prospects based not on emotion but on its new price and valuation

2017

OCTOBER

19OCT 2017

Blog

How do interest rates affect stockmarkets?

The link between interest rates and company share prices in the UK may not be obvious but it certainly exists – which is why investors do need to care about what the Bank of England is now saying about raising rates

AUGUST

18AUG 2017

Blog

Is it still possible to find value in retail stocks?

The wider market has a tendency to dismiss the prospects of entire sectors – and in so doing creates opportunities for disciplined investors willing to dig out the good stocks taken down with the bad