Market Comment

Market Comment - June '14

June 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

You might recall that we previously identified the vulnerability of the US stock market based on three criteria - overvaluation, overconfidence and easy money. These don't tell us about the timing of a long overdue major correction, merely they confirm vulnerability. Nonetheless, once you work with this framework it does make it easier to see the cracks emerging. On over-valuation, you don't have to go far to sniff 1999 madness. On the takeover of WhatsApp it was valued at $350 million per employee doubtless they are each worth every penny. Take Tesla. It has sold only 27,000 cars since its 2010 birth, yet is valued at $31 billion. This is a greater market value than born-again General Motors, which sells 27,000 cars every day. ...

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Market Comment - June 2015 (June 2015)

Market Comment - January 2015 (January 2015)

Market Comment - September '14 (September 2014)

Market Comment - August '14 (August 2014)

Market Comment - July '14 (July 2014)

Market Comment - May '14 (May 2014)

Market Comment - April '14 (April 2014)

Market Comment - March 2014 (March 2014)

Market Comment - February 2014 (February 2014)

Market Comment - January 2014 (January 2014)

Market Comment - December 2013 (December 2013)

Market Comment - November 2013 (November 2013)

Market Comment - October 2013 (October 2013)

Market Comment - July 2013 (July 2013)

Market Comment - July '12 (July 2012)

Market Comment - June '12 (June 2012)

Market Comment - May 2012 (May 2012)

Market Comment - February 2012 (February 2012)

Market Comment - January 2012 (January 2012)

Market Comment - December 2011 (December 2011)

Market Comment - November '11 (November 2011)

Market Comment - August 2011 (August 2011)

Market Comment - July 2011 (July 2011)

Market Comment - June '11 (June 2011)

Market Comment - May '11 (May 2011)

Market Comment - April '11 (April 2011)

Market Comment - March '11 (March 2011)

Market Comment - February '11 (February 2011)

Market Comment - January '11 (January 2011)

Market Comment - November '10 (November 2010)

Market Comment - October '10 (October 2010)

Market Comment - September '10 (September 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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