What The Rearview Window Tells Us
Forgive the silly title. We drive looking forward through the windscreen, so to speak, but we need our mirrors to avoid getting hit from behind. Someone once told me the reason the windscreen is bigger than the mirror is that we need to see where we are going more than where we have been. As […]
Commercial Property v Infrastructure
A properly diverse portfolio contains assets that are less correlated than bonds and equities. Traditionally, commercial property funds have provided a significant element of this diversification. I have argued for over a decade that infrastructure is less risky than these traditional property funds. Both should be considered carefully, as they require the deployment of long-term […]
Investing in the Age of Transformation
It is our ability to invent and develop ideas that has transformed us from primitive man surviving in the world to being able to control it for our benefit. Throughout time, there have been step changes that have accelerated this process. The Industrial Revolution ushered in tremendous social and economic changes that have swept the […]