Independent Strategy adds value to its clients by seeking out investment themes and opportunities in Macro Investments, often challenging conventional wisdom.
Too often investment research is constrained by the narrow focus of the research provider, but we seek to create a cohesive global view. We are compact and flexible enough to respond quickly to an ever-changing investment scene.
The research is designed to benefit both short-term and longer-term strategic thinking. It carefully studies geo-political and economic events, while looking for breaks in historical trends to uncover investment opportunities.
We produce 60-70 reports a year on investment strategy, dealing with multiple investment topics. The scope of the research is global.
After due consultation with the client, we devise a dedicated investment benchmark and country allocation policy for a portfolio of assets.
Alternative investments are becoming an increasingly important part of institutional investors’ portfolios.
This report looks at where and how the economic recovery from Covid could be sustainable. Countries that will do better are those where behaviour reverts to pre-Covid patterns, savings rates are high, policy was effective and where manufacturing (rather than services) is a relatively large proportion of output. Nevertheless, the pandemic has resulted in a massive transfer of income and assets from the state to corporations and households and the biggest ever incurrence of liabilities by the state. This will have long-lasting effects and sets the parameters for recovery.SUBSCRIBE TO DOWNLOAD REPORTS
The pandemic might have shattered the economy and ushered in ever more aggressive interventionism from the monetary and fiscal authorities. But the investment implications have not shifted quite as much. What has changed is the rationale and conviction underpinning them. Central bank dominance in costing capital and aggressive asset purchase programmes have undermined the pricing role of markets. That will be lasting. Government bonds will deliver nothing, growth focused equities will remain the premium asset of choice and all currencies will be weak. You’ll notice when measuring them against gold.SUBSCRIBE TO DOWNLOAD REPORTS
Writing a year or more ago when we floated the idea of the superiority of techno-autocracies over liberal democracies, it seemed that China was set to achieve its geopolitical goals of rivalling the US on the world stage. As an intelligently-led techno-autocracy it was on course to achieve such status and for the world to accommodate its continued rise, as had been the case since the country began opening up economically. Moreover, its peer states seemed encumbered with stupid populist governments and dysfunctional systems, that would never unite to rival China. Now, like Marlowe’s anti-heroes of Faustus and Tamburlaine, overreaching makes it likely that China is turning the tables on itself. China is no longer in a position of such strength but of increasing weakness. The responsibility for this lies with President Xi.SUBSCRIBE TO DOWNLOAD REPORTS