magazine archive
magazine archive
Feature
Why excluding stock-based compensation from profit calculations is misleading for investors
Thursday 06 Apr 2023At the start of 2023, Fundsmith Equity (B41YBW7) boss Terry Smith went to town over the habit of some companies to strip out the impact of share-based compensation (SBC) from reported profits. ‘I suspect the most pernicious effect of adjusting profits to exclude the cost of share-based compensation...
Emerging markets look to stoke growth as electric vehicles sales hit the skids
Thursday 30 Mar 20231 . Pr o-growth policies. In the coming months, we believe the roll out of pro-growth policies in emerging markets could be a significant tailwind to domestic demand in selected markets. Across continents, local governments have introduced measures to cushion the impact of inflation and/or to spur...
Profiling the big Chinese electric vehicle rivals to Tesla
Thursday 30 Mar 2023In January 2023 Tesla (TSLA:NASDAQ) had an 8% share of the Chinese new energy vehicles market according to figures from the China Passenger Car Association. However, the world leader in electric vehicles faces significant domestic competition in China. Who are the main players? BYD (1211:HKG) is...
Why the Credit Suisse bailout has failed to calm investors’ nerves
Thursday 23 Mar 2023Another week, another bank failure, or so it seems these days. News that ailing European lender Credit Suisse (CSGN:SWX) had been saved from insolvency over the weekend thanks to a take-over by its larger rival UBS (UBSN:SWX) should in theory have eased concerns of ‘contagion’ across the banking...
What an escalating AI-powered search war might mean for media stocks
Thursday 23 Mar 2023First there was ChatGPT – the disruptive AI chatbot made by OpenAI (Chat Generative Pre-Trained Transformer) and now there are searches powered by AI (artificial intelligence) which could bring a revolution in digital advertising as well as spell the end of bog-standard online enquiries...
Investing in a world of higher rates
Thursday 23 Mar 2023It has been a tricky couple of weeks for investors. The higher or lower speculation over interest rates, particularly in the US, has changed so rapidly it can make you feel like a contestant on Bruce Forsyth’s Play Your Cards Right . The collapse of Silicon Valley Bank and New York-based Signature...
What should your investment portfolio look like in your 70s?
Thursday 23 Mar 2023This article follows on directly from last week’s look at investing in your 60s by moving forward a decade to identify the factors affecting investors in their 70s. By this age most investors will be retired or are very close to giving up on full-time work. The article assumes an investor has...
Discover the beneficiaries of China’s big reopening in 2023
Thursday 23 Mar 2023China’s rapid retreat from its zero-Covid policy in a bid to boost economic growth is one of the big investment themes of 2023 and is sure to provide a major boon for consumption in the so-called Middle Kingdom. Since November 2022, the government has dramatically reopened the Chinese economy and...
Why a company’s longevity is important to some of the best fund managers
Thursday 23 Mar 2023Given some of the most successful fund managers go to the trouble of calculating the average age of companies in their portfolios it is fair to conclude it is an important characteristic of how they invest. In this article we look at why longevity in companies matters and identify some of the...
Investing in AIM shares for inheritance tax relief? Don’t get caught out by these issues
Thursday 16 Mar 2023Investing in certain AIM stocks to obtain inheritance tax relief is a popular strategy, yet the rules can be complicated. Given that two of AIM’s biggest stocks are poised to leave the junior market – Emis ( EMIS:AIM ) in a takeover and Breedon ( BREE:AIM ) which wants to move to London’s Main...