David Cowell from Myddleton Croft Investment Managers says it’s never too late to learn from the young’uns.
I am trying to make friends outside of Facebook while applying the same principles. So every day, I go down on the street and tell the passer-by what I have eaten; how I feel :what I have done the night before, and what I will do after. I give them pictures of my wife, my daughter, my dog and me gardening and mowing the lawn. I also listen to their conversations and tell them that I love them.
It works! I already have 3 persons following me : two police officers and a psychiatrist.
At close of play last Friday, the Footsie stood at 7070.70. In the spirit of scientific investment management, is this an omen?
The Government has spent £37,000 developing a “brand identity” for guidance service Pension Wise. No comment.
‘Helicopter Ben’ joins PIMCO. We’ll see how he likes being messed around by central banks.
The Federal Open Market Committee made another set of largely dovish comments on Wednesday night, seemingly in response to the poor GDP numbers put out earlier in the day. The trouble is they have gone to such lengths to tread carefully and emphasise they will be ‘patient’ that it is starting to look like they are protesting too much. Central bankers are showing a resemblance to traders. Perhaps it is time to tell it how it is going to be rather than pussyfooting about.
You may have seen that the 10-yr gilt is yielding 1.8%, up from 1.5% recently. It prompted me to look at the performance of our Enhanced Income Fund since the turn of the year:
Not bad eh?
Last week Sesame confirmed it will offer a number of benefits to ARs who join Bankhall or Intrinsic, including no freezing of commission and having any Financial Services Compensation Scheme interim levies paid. The letter also informs members they will not be pursued for PI excesses as long as they remain with Bankhall, Sesame or Intrinsic. It will be interesting to see who accepts the bribe.
Lloyds incurred a £660m charge relating to the sale of challenger bank TSB, after it agreed to pay £450m for TSB’s IT migration costs. Lloyds was forced by the EC to sell or spin-off TSB and it was floated on the stock market in 2014. A takeover bid by Spanish bank Banco de Sabadell was announced in March.
More financial advisers in the UK are using discretionary management services, new industry research shows. In 2014, 43 per cent of UK financial advisers were outsourcing their investment proposition and 72 per cent are using discretionary management services, data from Defaqto shows. This compares to 45 per cent using discretionary services a year earlier. I know that we have certainly seen a major increase, and long may it continue.
Daughter texting father:
“Daddy, I am coming home to get married. I’m in love with a boy who is far away from me. I am in Australia, and he lives in the Scotland. We met on a dating website, became friends on Facebook, had long chats on WhatsApp, he proposed to me on Skype, and now we’ve had two months of relationship through Viber. Dad, I need your blessings, good wishes, and a big wedding. Lots of love, Lilly.”
Father texting daughter:
“Wow! Really?? Then I suggest that you two get married on Twitter, have fun on Tango, buy your kids on Amazon, and pay through PayPal. If you ever get fed up with your husband, sell him on EBay. Lots of love, Daddy.”
Have a good weekend.
For and on behalf of Myddleton Croft Investment Managers
1 Woodside Mews
Clayton Wood Close
Tel: 0113 274 7700
Fax: 0113 274 7711