Quarterly Market Update – April 2022

“The individual investor should act consistently as an investor and not as a speculator” ― Benjamin Graham, author of The Intelligent Investor It is fair to say that in January our focus was on inflation and central bank policies. We expected market wobbles, but we remained cautiously optimistic for 2022. For someone fascinated by history, […]

“Howay the Ladds Monthly Spotlight” – April 2022

The quarterly market and portfolio updates will provide some thoughts around markets and what is happening. In the monthly spotlight I wanted to spend some time on why the investment side makes us different. April Spotlight “An investment in knowledge pays the best interest.” – Benjamin Franklin In January I shared some insight into what […]

“Howay the Ladds Monthly Spotlight” – March 2022

When I consider my relatively short time in managing money, one thing I have learnt is that every year there are challenges. 2022 is no different. Some of the concerns include inflation, central banks, a China slowdown, and Ukraine / Russia. In May we will be sending out our rebalance packs and in advance of […]

The Connect 4 conundrum

There is an app to play Connect 4 I recently discovered and it’s great. Set the level to hard and give the computer the first counter and it’s a real challenge. You must try to work out what the opponent is trying to achieve and stymie that whilst achieving a winning strategy yourself. This seems […]


After months of heightening tensions Russia appears to be invading not just the separatist regions of Luhansk and Donetsk as many expected, but the whole of Ukraine. Source: CNBC What is puzzling to many is the very heavy price in terms of economic retaliation Russia will suffer and why this is deemed worth it. Putin’s […]

Tony Dwyer knows stuff

Tony Dwyer is one of the people who when he speaks, we listen. There aren’t that many, Tom Lee, Adam Parker, Brian Belski and Mike Wilson are others. He did an hour with the Josh Brown Podcast on Friday, and these are the key takeaways. He has a core thesis that he does not deviate […]

Comparing apples with apples

We listen to and talk with investment professionals most days. We can access the thoughts and analysis of the best. And in periods of volatility, they will do one of two things. They will either say “Pay no attention to macroeconomic noise, it doesn’t assist in generating long term outsized returns.” Or “This is how […]

The unruly dog theory

Trying to understand how markets react over short periods can be perplexing. A conundrum wrapped in a riddle of a black cat in a darkened room that maybe isn’t really there. This was demonstrated in early 2020 when the pandemic struck globally and markets around the world went into free fall. They fell 30%, a […]

“Howay the Ladds Monthly Spotlight” – February 2022

It seems an age since all the world leaders gathered in Glasgow for COP26. So, this month we consider “Good COP / Bad COP”. February Spotlight “Your actions matter. No action or voice is too small to make a difference.” Vanessa Nakata, Ugandan Climate Activist   There has been a great deal of debate as […]

“Howay the Ladds Monthly Spotlight” – January 2022

So, another year is done. The last couple of years have been interesting for investors, from the lows in March 2020 to the incredible rally that followed. Mixed in with that we saw the “COVID trade” switch to the “re-opening trade” on Vaccine Monday. Then in 2021 sectors and regions which did well in 2020 […]

“Howay the Ladds Monthly Spotlight” – December 2021

Over the coming months we are planning to focus on how we approach investing, and provide an update on COP (“Good COP or Bad COP”!). However, this month it is Christmas, so we thought we would discuss the Santa Rally and what it really means. December Spotlight “Invest for the long haul. Don’t get too […]


The best performing crypto coin of 2021 is Shiba Inu, up 2.4million%. That’s a far better result than Warren Buffett’s 60-year total investment return and for buying what exactly? Well, Shiba Inu was created as a parody of Dogecoin which itself was a joke crypto coin in homage to a Japanese breed of dog. I […]

“Howay the Ladds Monthly Spotlight” – November 2021

As world leaders gather in Glasgow for COP26 (Conference of Parties), we thought it would be interesting to shine the spotlight on responsible investing and what it means. Is it hype, is it the dotcom boom all over again, and are there opportunities? November Spotlight The earth is what we all have in common Wendell […]

Quarterly Market Overview – October 2021

“I am a lead pencil – the ordinary pencil familiar to all boys and girls and adults who can read and write” – I, Pencil, My Family Tree as told to Leonard E Read It is perhaps worth remembering that what happened in 2020 was a once in a lifetime event. The recession was man […]

“Howay the Ladds Monthly Spotlight” – October 2021

We had a great question on whether the current rally can continue. So, this month we look at inflation, and can the global rally last? October Spotlight – Is inflation transitory, and will the global rally last? Every year we get a new buzz word: this time around it seems to be “transitory”. The idea […]

“Howay the Ladds Monthly Spotlight” – September 2021

Welcome to the first monthly update from LWM. Each month we take a look at a topical subject, share some market statistics, look at which funds are doing well and where the money is going, and then share some thoughts from fund managers. We hope you enjoy this first edition! September Spotlight – China an […]

Unpicking the news

“The optimists. Oh, they were the ones who said, ‘We’re going to be out by Christmas.’ And Christmas would come, and Christmas would go. Then they’d say, ‘We’re going to be out by Easter.’ And Easter would come, and Easter would go. And then Thanksgiving, and then it would be Christmas again. And they died […]

Quarterly Market Overview – January 2021

“To expect the unexpected shows a thoroughly modern intellect.” ― Oscar Wilde, An Ideal Husband As we entered 2020, there was not a great deal that concerned us. We felt the China/US trade tensions would calm down as the first agreement was set to be signed, there was optimism that Brexit would be sorted in […]

News from the frontline – December 2020

“Sometimes you will never know the value of a moment until it becomes a memory.” – Dr. Suess This is the last “news from the frontline” for this year. Entering 2020, we were cautiously optimistic. The UK was facing political stability which it had not seen since the Blair/Brown days, and the US and China […]

News from the frontline – 20 November 2020

When we started this year there was a fair amount of optimism, then COVID-19 fundamentally changed so many things and accelerated transformations that in many cases were already in play. As we entered a second lockdown in England, there was a sense of positivity within our ranks. Although I had resigned myself to a Trump […]

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