Portfolio Update June 2022: A month of two halves

The spectre of recession and less aggressive monetary tightening rescued the portfolios from an even worse performance in June.

Photo by Izuddin Helmi Adnan

May’s market horror continued into June as worries over inflation and the Fed’s course on rates persisted, only to reverse around the middle of the month and end back where they started.

In any normal circumstances that reversal will have come as a relief. Except these are not normal circumstances, because in any sane world the prospect of a savage recession would hardly be encouragement for buyers to return; the stock market IS the economy, even if the timing is sometimes off.

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Investability portfolio update: a cruel April

The portfolios stood up relatively well in tough markets – but some holdings need slicing

Photo by Joshua Woroniecki

I’m not sure why TS Eliot thought that April was the cruellest month. A Lloyds banker by trade, the poet will have been well aware that stock markets generally do quite well in April, and that it is only in May that investors should consider selling up and going away until the St Leger’s Day horse race in early September.

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Investability weekly 29/03/22: Beware the Bear

Why the market’s recent bounce may not last

Photo by mana5280

The bear market rally – my view, not necessarily shared by all - continued this week, although not all markets rallied at quite the same pace. Leading the charge was the Nasdaq, where the big boys including Tesla, Apple and Nvidia did some heavy lifting and led US stock market broadcaster Jim Cramer to declare that “the bear market is over”. I think we all know what a Jim Cramer prediction usually means, though…  

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Investability weekly 14/03/22: Hunger Strikes

Rising energy bills are soon to be followed by higher food prices – and the squeeze on living standards may hit the market hard

Photo by John Cameron

One hardly knows where to start looking when trying to weigh up the market right now. To pilfer the insights of John Lennon, “The more I see, the less I know for sure.” I guess that’s always true of markets to a certain extent, but now more so than ever it seems.

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Investability Portfolios update: February respite

February wasn't a bad month for the portfolios considering the tough market backdrop

Photo by Max van den Oetelaar

February was a fairly mixed month for the two main Investability portfolios, with the UK Quality Shares portfolio hobbling along after a very poor January and the US-heavy Atlantic portfolio losing further ground after a bad start to the year, albeit at a mercifully slower rate.

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Investability weekly 01/03/22: Everything changes

Putin’s attack on Ukraine prompts market-shaking policy shifts

Photo by Max Kukurudziak

It has been a horrible and shocking week, in which geopolitical events took the unexpected turn of a full-scale Russian invasion of Ukraine. The people of Ukraine seem to be fighting back, halting Russian tanks and attack helicopters as they attempt to capture key cities, often with the Western weapons streaming into the country – but the offensive only seems to be getting more brutal in response.

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Investability weekly 21/02/22: Don’t Look East

Precious metals are in demand as Russia keeps everyone guessing over its intention in the Ukraine, plus the week’s biggest risers and fallers across key indices

Photo by Christian Lue

Fears of a Russian invasion of Ukraine meant a choppy week for the UK market, as Putin played Will He? Won’t He? with his NATO counterparts. Russia has said it has no plans to invade; the US says he does, imminently, and a series of explosions in separatist held cities have prompted talk of false flag operations and done little to soothe the mood. Hopefully, diplomacy will prevail.

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Quality Shares Portfolio Updates: Wet January

A stiff drink is required after a poor performance from both portfolios last month

January was not a good month for the Quality Shares portfolios, hardly surprising as the focus on quality that had driven their performance over the years found itself very much out of fashion over the month. US technology shares, which form the bedrock of the Atlantic Portfolio, had a very difficult month despite closing out with a flourish as the likes of Microsoft and Apple reported strong earnings.

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