Hello Everyone,
There are only so many ants that can fit on a breadcrumb.
I have just come back from a seven-week ‘recuperation’ holiday ending up in Perth, Australia - the home of my eldest daughter. There were a few things there that were noticeably different to the UK.
Firstly. It is as if Covid had never happened. No masks worn, with shops, local transport, and restaurants all extremely busy.
Secondly. The price of all foods and goods is considerably more expensive than in the UK, but there are no shortages. (I was using today’s exchange rate of A$1.75/ £1).
Thirdly. There were very few signs of beggars in the city centres of Sydney and Perth.
Finally. We did quite a lot of travelling, and there was absolutely no litter anywhere. None on the city streets, roadsides, or parks. This to me shows a sign of pride in where you live.
Comparing it with the UK makes my teeth itch! It feels like there’s litter everywhere. Surely this could be resolved by using those on Community Service. We should be able to remove the litter on roads and motorways, with lane closures for safety, before moving on to the towns and countryside.
In this, and other areas, I’m afraid that we are becoming Third World!
On our return to the UK, it was very disheartening to see that the media was still inflating every piece of bad news that they could lay their hands on, and in particular strikes and pay claims from many spectrums of employment. I am mindful that the NHS has spent a considerable sum of money on my operations in the last three years, and my treatment by the surgeons, nurses and staff has been nothing short of exemplary. Nevertheless, I still feel the situation of the NHS, nurses and junior doctors needs to be viewed objectively along with the other wage disputes.
In the past, both as an employee and owner of a number of factories I know that at that time, holding your hands out to the banks and government did not get them filled with money; instead, it got them slapped. Running a manufacturing business, it was very important to make sure that all the ‘ants’ and in particular those in an administrative role were gainfully employed and essential to the success of the business. As for the ‘breadcrumbs’ it was a constant battle watching selling prices, overheads, and removing unnecessary costs to turn these ‘breadcrumbs’ into ‘loaves’. This was necessary in order that the factories would be profitable, survive, and that good wages could be paid. I question whether this happens today in the public service industries.
Whilst I have been away, I was only checking my own portfolios once or twice a week rather than daily, which, by the way, I found quite calming. Overall, there has been a small gain which is better than the Autumn where there had been a run of continuous small losses.
Unfortunately, I missed out on the gains made by Continental funds and by the sudden surge in American Tech funds. Brooks Continental European stands out as a front runner with a few other funds close behind. I have now invested on a momentum basis without any feel for what is responsible for these Continental gains.
All the markets and sectors are still extremely volatile with no real winner coming to the front that we can back with any sense of certainty. I had hoped that the underrated UK funds would have picked up the batten by now, but there is still no sign of that happening anytime soon.
Most of the world markets seem to be waiting for the action of the American Federal Reserve. Will they continue to raise interest rates in order to try and keep inflation under control, or leave them where they are and let their economy continue to expand? When this is known, perhaps we might get some sort of market stability, but until then I will continue to hold a large percentage of my investments in cash, Protected Retirement Plans, and Structured Products.
At last, I have finally thrown in the towel concerning hydrogen companies. I have cut my investment down to a quarter of the initial amount in each, and I will leave it like that, just to have my foot in the door should any of them start to recover. I can no longer see a future for its use in cars, as it is proving difficult to provide enough charging stations for electric cars, so what chance for hydrogen? Heavy earth movers, lorries and ships should be carrying the hydrogen flag, but where at the moment does one make this particular investment? I intend to keep looking and would appreciate hearing from any of you who have an answer.
It is also going to be interesting to see how long the big energy companies continue to preach their credentials on the “green” front. A number are now back-tracking and extending the time when they will reduce their extraction of oil and gas. 2030 now seems to be becoming 2050. Perhaps that will give the likes of the TB Guinness fund and other natural resource funds another boost.
I was pondering the other day on why some of my friends have become more religious as they have got older. Then it dawned on me that they are cramming for their final examination!
There are only so many ants that can fit on a breadcrumb.
I have just come back from a seven-week ‘recuperation’ holiday ending up in Perth, Australia - the home of my eldest daughter. There were a few things there that were noticeably different to the UK.
Firstly. It is as if Covid had never happened. No masks worn, with shops, local transport, and restaurants all extremely busy.
Secondly. The price of all foods and goods is considerably more expensive than in the UK, but there are no shortages. (I was using today’s exchange rate of A$1.75/ £1).
Thirdly. There were very few signs of beggars in the city centres of Sydney and Perth.
Finally. We did quite a lot of travelling, and there was absolutely no litter anywhere. None on the city streets, roadsides, or parks. This to me shows a sign of pride in where you live.
Comparing it with the UK makes my teeth itch! It feels like there’s litter everywhere. Surely this could be resolved by using those on Community Service. We should be able to remove the litter on roads and motorways, with lane closures for safety, before moving on to the towns and countryside.
In this, and other areas, I’m afraid that we are becoming Third World!
On our return to the UK, it was very disheartening to see that the media was still inflating every piece of bad news that they could lay their hands on, and in particular strikes and pay claims from many spectrums of employment. I am mindful that the NHS has spent a considerable sum of money on my operations in the last three years, and my treatment by the surgeons, nurses and staff has been nothing short of exemplary. Nevertheless, I still feel the situation of the NHS, nurses and junior doctors needs to be viewed objectively along with the other wage disputes.
In the past, both as an employee and owner of a number of factories I know that at that time, holding your hands out to the banks and government did not get them filled with money; instead, it got them slapped. Running a manufacturing business, it was very important to make sure that all the ‘ants’ and in particular those in an administrative role were gainfully employed and essential to the success of the business. As for the ‘breadcrumbs’ it was a constant battle watching selling prices, overheads, and removing unnecessary costs to turn these ‘breadcrumbs’ into ‘loaves’. This was necessary in order that the factories would be profitable, survive, and that good wages could be paid. I question whether this happens today in the public service industries.
Whilst I have been away, I was only checking my own portfolios once or twice a week rather than daily, which, by the way, I found quite calming. Overall, there has been a small gain which is better than the Autumn where there had been a run of continuous small losses.
Unfortunately, I missed out on the gains made by Continental funds and by the sudden surge in American Tech funds. Brooks Continental European stands out as a front runner with a few other funds close behind. I have now invested on a momentum basis without any feel for what is responsible for these Continental gains.
All the markets and sectors are still extremely volatile with no real winner coming to the front that we can back with any sense of certainty. I had hoped that the underrated UK funds would have picked up the batten by now, but there is still no sign of that happening anytime soon.
Most of the world markets seem to be waiting for the action of the American Federal Reserve. Will they continue to raise interest rates in order to try and keep inflation under control, or leave them where they are and let their economy continue to expand? When this is known, perhaps we might get some sort of market stability, but until then I will continue to hold a large percentage of my investments in cash, Protected Retirement Plans, and Structured Products.
At last, I have finally thrown in the towel concerning hydrogen companies. I have cut my investment down to a quarter of the initial amount in each, and I will leave it like that, just to have my foot in the door should any of them start to recover. I can no longer see a future for its use in cars, as it is proving difficult to provide enough charging stations for electric cars, so what chance for hydrogen? Heavy earth movers, lorries and ships should be carrying the hydrogen flag, but where at the moment does one make this particular investment? I intend to keep looking and would appreciate hearing from any of you who have an answer.
It is also going to be interesting to see how long the big energy companies continue to preach their credentials on the “green” front. A number are now back-tracking and extending the time when they will reduce their extraction of oil and gas. 2030 now seems to be becoming 2050. Perhaps that will give the likes of the TB Guinness fund and other natural resource funds another boost.
I was pondering the other day on why some of my friends have become more religious as they have got older. Then it dawned on me that they are cramming for their final examination!
Best wishes and good luck with your investments.
Douglas
Founder & Chairman
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