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  • Floods in Europe, forest fires in North America and Australia—the impact and tragic results of climate change are starting to dominate the news.

  • Over the past five months investors put more money into equity funds than in the previous twelve years combined. It’s easy to see why.

  • The future looks even more uncertain than usual. Normally uncertainty translates into lower asset prices. But not this time. And with the prices of all assets buoyed by abundant liquidity, we fear a traditional ‘diversified’ portfolio is not going to be much protection in the next market convulsion.

  • ‘New’ economy stocks have surged over the past five years, but unfashionable value may yet have its moment in the sun Hermione Davies

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