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.
The Fed wake-up call was an event long awaited and long foreseen. But market response was not as I thought. Our US ‘twin deficit’ currency drivers did not work. We are back to relative monetary policy and growth as drivers of currencies for a few months. That means a strong US dollar.SUBSCRIBE TO DOWNLOAD REPORTS
The Fed has blinked. The committee sees a need for higher rates sooner than Powell had hoped. But the Fed’s forward guidance and the gradualism this generates makes it difficult to redefine policy to the new realities of booming demand and quickening inflation. The absence of a debate about tapering is a case in point. Bonds see this, equity markets don’t yet. And while the knee-jerk response is a stronger dollar, heightened policy uncertainty and the risk of monetary policy error isn’t usually a currency’s friend.SUBSCRIBE TO DOWNLOAD REPORTS
While the green revolution continues to gather steam, there is still a high degree of procrastination going on. The radical transformation of the economy that is required could be happening much faster. Gradualism will result in more capital destruction over the medium-term — the irony of a strategy that seeks to minimise up-front costs. Thankfully, technology is moving the world’s way. The problem is the damage already done and the course this has set us on. It is not going to be turned by net zero. Reversing course might mean centuries of effort, certainly many decades. This creates more opportunities for greened investors — catching up always being more costly.SUBSCRIBE TO DOWNLOAD REPORTS