Independent Strategy

Home

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.

RESEARCH

We produce 60-70 reports a year on investment strategy, dealing with multiple investment topics. The scope of the research is global.

PORTFOLIO ADVISORY

After due consultation with the client, we devise a dedicated investment benchmark and country allocation policy for a portfolio of assets.

ALTERNATIVE INVESTMENTS

Alternative investments are becoming an increasingly important part of institutional investors’ portfolios.

Latest Reports

20/06/21
Global Global

How to get (almost) everything wrong graciously

The Fed wake-up call was an event long awaited and long foreseen. But market response was not as I thought.…

17/06/21
US US

Mind the (Fed credibility) gap

The Fed has blinked. The committee sees a need for higher rates sooner than Powell had hoped. But the Fed’s…

16/06/21
Global Global

The virtuous game

While the green revolution continues to gather steam, there is still a high degree of procrastination going on. The radical…

Global

20th June, 2021 » How to get (almost) everything wrong graciously

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
US

17th June, 2021 » Mind the (Fed credibility) gap

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
Global

16th June, 2021 » The virtuous game

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

BROWSE ALL REPORTS

Independent means just that

Objective + Innovative + Opportunity

Our research is based on a thoroughly objective view of the world as it is, not as some might like it to be seen.

Our work is characterised by independence of thought and a determination to focus only on money making ideas, resulting in a totally fresh and original approach compared with the overwhelming volume of reports by integrated investment houses.

READ MORE

In the Media

25 years of Strategic Independence|Regulated and authorised by the Financial Conduct Authority

MACRO MATTERS

Global

21st June, 2021 » Covid-19: Vaccination breadth increasing, infection rates steady

Total global vaccinations rose 11.8% or by 260mn – roughly stable on the week.  Vaccinations per 100 of the population is now above the critical 30 level in all regions except South Asia (India 20), Russia (24) and Africa (3).  Share of population fully vaccinated: world 10%, EU 24%, US 45%, UK 46%, South America 11%, Asia (ex China, which does not report) 7.9%.

Read More...

Global

16th June, 2021 » Fast Track Data — India rebound underpinning global gains

Google mobility indices show a further and broad based improvement in the week to June 12th.  Global economic has all but recouped its post-Covid losses, but mobility is still some distance behind (a deficit of ~17% based on the data), although the trend here remains an improving one too.

Read More...

Technicals

15th June, 2021 » IS Weekly Technicals — 15th June

Chart pack and analysis attached.

Read More...

READ ALL POSTS

AWARD WINNING, EXPERIENCED, DEDICATED EXPERTISE

MEET THE TEAM

Independent Strategy: David Roche David Roche President and Global Strategist
Independent Strategy: Guido Manca Guido Manca Chief Executive Officer
Independent Strategy: John Armstrong John Armstrong Managing Director
Independent Strategy: James Lister-Cheese James Lister-Cheese Strategist and Director
Independent Strategy: Nick Kennedy Nick Kennedy Chief Economist
Independent Strategy: Bob McKee Bob McKee Consultant Economist

FIND OUT MORE

REPORTS ARCHIVE

The reports archive contains chronological lists of articles that have been written by Independent Strategy. Independent Strategy’s research is available by annual subscription. For details of subscription rates and soft dollar payments, please contact Independent Strategy by using the contact form.

REPORTS ARCHIVE