In today’s piece we attempt to explain why markets have been rallying despite a seemingly dire macro-economic backdrop. We also touch on a few ideas to help navigate the current uncertainty.

In today’s article we discuss why we believe this new bull-market is rapidly turning into a bubble.

While there is room for optimism, we are still a long way from returning to normality from a global economic perspective.

This is by far the most frequently asked question we’ve had this year. It may surprise some readers that for once we are uncharacteristically optimistic, albeit with a sinister twist.

This year financial markets have been dominated by 3 themes: Covid-19, market stimulus and an incredible tech bull-market run. In today’s piece we discuss what led to the recent sell-off in tech stocks.

In today’s piece we focus our attention on the institution stealing COVID-19s limelight: The Federal Reserve.

When your head is firmly in the sand, another part of your anatomy is fully exposed. Stock market performance no longer seems to be an indicator of economic realities.

WTI crude prices went into negative territory last night. In today’s article we discuss why.

In today’s piece I explain how I arrive at the title “2020: The Year of Covid-19” and discuss some investment themes.

Today’s commentary refers back to a prior update in March and discusses how some of our “game-changers” are developing.

I’m going to keep my financial market commentary fairly brief this week. I am still of the view that this situation gets worse before it gets better.

In today’s market update I discuss why I believe we have not yet reached the bottom of this crisis.

My assessment is broadly unchanged from what it was in January when I issued my first warning. In today’s update I will discuss how bad I believe this crisis can get.

We have been asked to start sending out regular market updates/views by a number of investors – if you would like to be added to the distribution list please leave your details on our contact form.

It looks like financial markets are finally starting to react properly to the new Coronavirus. We did issue a warning about this potential impact nearly a month ago. It is not too late to hedge/de-risk.

Take it from a non-alarmist: Coronavirus is about to get ugly. The media is currently underplaying it to reduce panic and contagion. This virus is going to have a huge economic impact. Over the coming weeks all news will be bad. Time to take off risk and increase your cash positions. We have.

TPI Capital Limited has undergone a change. The company has been renamed to Hurst Hill and under this new structure the company brings together a long legacy of both financial markets and real estate experience. Our investment philosophy is explained in detail under “About” on the Hurst Hill website.