Hello Everyone,
I am not a product of my circumstances, I am a product of my decisions. (Stephen Covey)
In general, I believe that this saying carries weight and we should all try to be masters of our own destiny. However, it’s too all-embracing for me, and obviously does not apply universally to all people or situations. For example, in politics and many other areas, we may make decisions based on information that turns out to be founded on lies and falsehoods, designed to mislead. These deceptions may contribute to the “circumstances” in which we made our “decisions”.
An example of the above is the triumph of Donald Trump in the American election, where he promised many things to “Make America Great Again”, mostly to be achieved at the expense of the rest of the world. It’s possible that these statements may turn out to be a jumble of fantasies and fiction. Nevertheless, this task is to be tackled by a mixed team of the seriously skilled and a bunch of sycophants.
It is difficult to argue with his aim of reducing the size of government, the civil service, inflation and the national debt, but of course the big question is, will this team be able to achieve the desired result? Perhaps yes, by good fortune and the intervention of a “good fairy”. If this turns out to be the case, then can we please have a more pleasant version over here in the UK.
The recent year has seen a strong performance from the American Unit Trusts and Investment Trusts, mostly based on their investments in the highly valued “Magnificent Seven” technology companies. This has been demonstrated in the Saltydog weekly numbers in the American and the Technology sectors.
For example, in our latest reports the Baillie Gifford American fund is up 8.5% in 4 weeks, 25.5% in 12 weeks, and is the leading fund over 26 weeks, with a 30.4% gain. The BGF World Technology fund is up 6.8% in 4 weeks, 17.1% in 12 weeks, and 11.4% in 26 weeks. Both funds are currently in Saltydog’s Ocean Liner portfolio.
The big question is, “will this continue when “The Donald” gets his feet well and truly under the desk?” I intend to continue to hold until I see a major change, and will try to avoid guessing what is the top of the market.
There’s also an Investment Trust which is generating impressive returns, the Edinburgh Worldwide Investment Trust (EWI). You can also see this in the Saltydog numbers. This week it was showing a gain of 12.8% over 4 weeks, 28.6% over 12 weeks, and 36.2% over 26 weeks. There may be the potential for a further major gain to be made.
EWI has around 10% of its portfolio invested in SpaceX preference shares. SpaceX is Elon Musk’s unlisted 'Space Exploration Technologies' company, which has already successfully taken astronauts to the International Space Station. Its subsidiary, Starlink, controls a large number of communication satellites orbiting the Earth, providing high-speed internet. Elon Musk has indicated that he might consider floating Starlink with an IPO. Should this happen, it will likely be for a gigantic sum of money, and those preference shares could turn into gold.
I am a great believer in the urgency and commitment to a greener planet, but setting “net zero” targets where the timescale is not achievable, because it has not been thought out properly, destroys its credibility. This is the situation I believe we have now. In any major project instead of rushing in, it is far better to take small steps quickly. Less damage is done if and when changes have to be made. As an aside, it totally grinds my gears that it appears necessary to send hundreds of politicians and civil servants to the COP conference. How can that be setting a good example?
In order to keep the lights on whilst wind, solar, and nuclear power become sufficiently developed to cover our requirements, it has been necessary to continue using a limited amount of fossil fuels. There are a couple of funds that appear to be successfully covering this arena - Guinness Global Energy and BGF World Energy. Funds investing in renewable energy include Pictet Clean Energy Transition, Polar Capital Smart Energy, and Guinness Sustainable Energy. All of these you can track in the Saltydog numbers.
I have to accept that as I have got older, I have become much more intolerant and tetchy, at least that is what my wife and daughters tell me. My current pet hate is the news media. I have come to the conclusion that the only function of “trial by television”, whether the subject be finance, economics, or politics, is to make bear-baiting look respectable. Very rarely do we learn anything of merit. Frequently it would be better if the person on the receiving end was to remain silent, at the risk of being thought a fool, than to talk, and remove all doubt of it!
I wish you all the best of Seasonal Greetings and good fortune with your investing in 2025.
And, to all vegetarians, may peas be with you.
I am not a product of my circumstances, I am a product of my decisions. (Stephen Covey)
In general, I believe that this saying carries weight and we should all try to be masters of our own destiny. However, it’s too all-embracing for me, and obviously does not apply universally to all people or situations. For example, in politics and many other areas, we may make decisions based on information that turns out to be founded on lies and falsehoods, designed to mislead. These deceptions may contribute to the “circumstances” in which we made our “decisions”.
An example of the above is the triumph of Donald Trump in the American election, where he promised many things to “Make America Great Again”, mostly to be achieved at the expense of the rest of the world. It’s possible that these statements may turn out to be a jumble of fantasies and fiction. Nevertheless, this task is to be tackled by a mixed team of the seriously skilled and a bunch of sycophants.
It is difficult to argue with his aim of reducing the size of government, the civil service, inflation and the national debt, but of course the big question is, will this team be able to achieve the desired result? Perhaps yes, by good fortune and the intervention of a “good fairy”. If this turns out to be the case, then can we please have a more pleasant version over here in the UK.
The recent year has seen a strong performance from the American Unit Trusts and Investment Trusts, mostly based on their investments in the highly valued “Magnificent Seven” technology companies. This has been demonstrated in the Saltydog weekly numbers in the American and the Technology sectors.
For example, in our latest reports the Baillie Gifford American fund is up 8.5% in 4 weeks, 25.5% in 12 weeks, and is the leading fund over 26 weeks, with a 30.4% gain. The BGF World Technology fund is up 6.8% in 4 weeks, 17.1% in 12 weeks, and 11.4% in 26 weeks. Both funds are currently in Saltydog’s Ocean Liner portfolio.
The big question is, “will this continue when “The Donald” gets his feet well and truly under the desk?” I intend to continue to hold until I see a major change, and will try to avoid guessing what is the top of the market.
There’s also an Investment Trust which is generating impressive returns, the Edinburgh Worldwide Investment Trust (EWI). You can also see this in the Saltydog numbers. This week it was showing a gain of 12.8% over 4 weeks, 28.6% over 12 weeks, and 36.2% over 26 weeks. There may be the potential for a further major gain to be made.
EWI has around 10% of its portfolio invested in SpaceX preference shares. SpaceX is Elon Musk’s unlisted 'Space Exploration Technologies' company, which has already successfully taken astronauts to the International Space Station. Its subsidiary, Starlink, controls a large number of communication satellites orbiting the Earth, providing high-speed internet. Elon Musk has indicated that he might consider floating Starlink with an IPO. Should this happen, it will likely be for a gigantic sum of money, and those preference shares could turn into gold.
I am a great believer in the urgency and commitment to a greener planet, but setting “net zero” targets where the timescale is not achievable, because it has not been thought out properly, destroys its credibility. This is the situation I believe we have now. In any major project instead of rushing in, it is far better to take small steps quickly. Less damage is done if and when changes have to be made. As an aside, it totally grinds my gears that it appears necessary to send hundreds of politicians and civil servants to the COP conference. How can that be setting a good example?
In order to keep the lights on whilst wind, solar, and nuclear power become sufficiently developed to cover our requirements, it has been necessary to continue using a limited amount of fossil fuels. There are a couple of funds that appear to be successfully covering this arena - Guinness Global Energy and BGF World Energy. Funds investing in renewable energy include Pictet Clean Energy Transition, Polar Capital Smart Energy, and Guinness Sustainable Energy. All of these you can track in the Saltydog numbers.
I have to accept that as I have got older, I have become much more intolerant and tetchy, at least that is what my wife and daughters tell me. My current pet hate is the news media. I have come to the conclusion that the only function of “trial by television”, whether the subject be finance, economics, or politics, is to make bear-baiting look respectable. Very rarely do we learn anything of merit. Frequently it would be better if the person on the receiving end was to remain silent, at the risk of being thought a fool, than to talk, and remove all doubt of it!
I wish you all the best of Seasonal Greetings and good fortune with your investing in 2025.
And, to all vegetarians, may peas be with you.
Douglas
Founder
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