A few years back I started the practice of asking professional investors of my acquaintance for periodic snapshots of their views about markets. I have found the results to be of great value both in forming my own views about the direction of the main asset classes and in throwing up specific investment ideas to research further. These Q and As form a central part of Independent Investor’s regular editorial content. I have found them particularly helpful in identifying important market turning points. See also my series of podcasts (audio interviews with leading professional investors).
Sandy Nairn, the CEO of Edinburgh Partners, has been a regular contributor to Independent Investor over the years, making several highly prescient calls along the way. He was extremely cautious in November 2007, just as the markets were starting to anticipate the full extent of the banking crisis, and bullish once more in March 2009, when the equity markets finally bottomed out after the severe 2007-09 bear market. Two years ago he made the case for investing in Japan. In the second part of our latest interview he argues that investors are overpaying for perceived safety: government bonds and companies with stable earnings are much more vulnerable to disappointment and capital loss than investors appear to appreciate.
Sandy Nairn, the CEO of Edinburgh Partners, has been a regular contributor to Independent Investor over the years, making several highly prescient calls along the way. He was extremely cautious in November 2007, just as the markets were starting to anticipate the full extent of the banking crisis, and bullish once more in March 2009, when the equity markets finally bottomed out after the severe 2007-09 bear market. Two years ago he made the case for investing in Japan. In the first part of our latest interview he argues that investors are overpaying for perceived safety: government bonds and companies with stable earnings are much more vulnerable to disappointment and capital loss than investors appear to appreciate.
The sooner that bankrupt countries such as Greece are allowed to go bankrupt, the better it will be for them - and for the rest of the world. The bad news is that political leaders are showing no signs of letting it happen, and that is bringing closer a serious global depression. So says the global investor Jim Rogers in his latest interview with Independent Investor, the latest in our series of podcasts about the Eurozone crisis and its implications for investors. Speaking from Singapore, the one-time founder of the Quantum Fund spells out his fears for the future - and how he is seeking to protect his own financial wellbeing.
How serious is the Eurozone crisis and how should investors react to it? That is the question I put to author and columnist John Kay in the latest of our series of podcasts on the crisis in Europe. the 45-minute audio file is now available to download from the Independent Investor website. Professor Kay, a former Director of the Institute of Fiscal Studies and professor at London Business School, is the UK's most distinguished commentator on economics and finance, through his books and regular column in the Financial Times. If you are worried about the future, have a listen to this interview - Prof Kay shares your concerns.
How does Mark Mobius see the outlook for investors in the light of the ongoing crisis in the Eurozone? You can find out by listening in to our latest audio interview, which can be downloaded from the Independent Investor website. Dr Mobius, who next year celebrates 25 years running the Templeton emerging markets funds business, discusses the threats and opportunities which the crisis has created. This is the first of a series of podcast interviews with leading professional investors and advisers. Others in the series include Jim Rogers, John Kay and Guy Monson.
Mark Slater, co-founder of Slater Investments, is one of the up and coming new generation of UK fund managers. His Slater Growth fund currently ranks as the best performing UK equity unit trust over one, three and five years, thanks mainly to a strong performance over the last two years, during which he has added further quantitative screening criteria to his original stockpicking methods. In this 40-minute audio interview, we discuss his methods, favourite stock picks and current cautious view on the market. (This item is for subscribers only).
Francis Brooke is a director of Troy Asset Management and manager of its income fund, which has outperformed almost all its competitors, on both an absolute and risk-adjusted basis, since its launch in 2004.
Richard Buxton has been Head of UK Equities at Schroders for the past ten years and someone whose views on the UK stock market I have followed for nearly twice that time. His UK Alpha Plus Fund, a concentrated portfolio of some 30 large and midcap stocks, selected on the basis of in-house research, as risen in value by 163% since its launch in 2002 and ranks fourth of 191 funds in the All Companies sector over that period. This is his current take on where the markets sit.
James Anderson, CIO of the Scottish fund group Baillie Gifford from 2006 to 2010, has been managing the Scottish Mortgage investment trust for the past 11 years and is a regular contributor to Independent Investor. In our latest Q and A he offers this notably upbeat assessment of the current outlook for equity investors. Scottish Mortgage is a global generalist trust that has produced a total return of 102% over the past ten years.
Colin McLean founded the fund management house SVM Asset Management, based in Edinburgh, 20 years ago and was one of the professional investors featured in my book Money Makers. An experienced stockpicker, in this Q and A he describes his current thoughts on the markets and how he is positioning his portfolios.