Independent Strategy

Strategy Reports

Global Investment Strategy

Independent Strategy: Reports

The following pages contain 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.

Viewing 1 - 50 of 1073
Global

27th May, 2020 » Developing problems  NEW

The downturn in developed markets (DMs) will be savage, with no hint of the ‘V-shaped’ recoveries that were sold as…

Global

22nd May, 2020 » The bell tolls  NEW

The China-US cold war is upon us. It is unfolding as expected, but the pace is now accelerating. It means…

Global

19th May, 2020 » The bore  NEW

In January, during Chinese New Year, I had started writing about Covid-19 — warning clients of its potential to destroy.…

Special Report: Commodities

22nd April, 2020 » Special Report: CommoditiesFighting the wrong fight

Even in times of great uncertainty, obvious things still happen. Shuttering much of the global economy crushed demand. That was…

Global

20th April, 2020 » The last light

It is striking how little is known, but how widespread is the conviction, that once the pandemic wanes things will…

Global

6th April, 2020 » War and pieces

War horse (30 March 2020) sketched the architecture of a war economy versus a pandemic economy. This note goes further.…

Global

30th March, 2020 » War horse

Fighting them on the beaches is different when the invisible enemy is little purple and red Covid blobs with spiky…

Special Report: Commodities

9th March, 2020 » Special Report: CommoditiesA crude way to double down

We are shifting currency investments because of the collapse in the oil price which, coming on top of Covid-19, is…

Germany

7th February, 2020 » Thuringian tremors

Political and economic risks are rising in Germany and, with them, pressure on the CDU. This week’s fateful cooperation with…

India

14th January, 2020 » On a slide

There is much to worry about in India. The slowdown in growth might have coincided with global weakness, but the…

Taiwan

13th January, 2020 » Democracy rules ok?

The outcome of Saturday’s Taiwanese presidential election was no great surprise. It reinforces the problems China and President Xi face…

Global

16th December, 2019 » Cold water

The removal of uncertainties is always good for a short-term market boost. But it’s often better to travel than arrive.…

Thailand

11th December, 2019 » A baht time?

Thailand’s currency is completely out of line with fundamentals. A large current account surplus has sustained it but that is…

Hong Kong

25th November, 2019 » Democratic tensions

The victory of pro-democracy candidates in the weekend’s Hong Kong (HK) district council elections creates another problem for US/China trade…

UK

4th November, 2019 » Beyond eternity

While some might view the latest ‘postponement’ of Brexit as another example of can kicking in reality, it materially changes…

US

17th October, 2019 » Warning signs

The length of a cycle does not necessarily condemn it. Indeed, the recent trend in developed markets has been towards…

Europe

7th October, 2019 » , Ad-Blues

The ongoing slump in German industrial activity isn’t likely to end soon. Many of the problems are structural and result…

Global

26th August, 2019 » La Rentree

Nothing in recent events has mellowed our views on the risks facing the global economy. The China/US trade conflict is…

In the Media