13 June 2013
Japan’s Nikkei index has fallen 20% in 16 trading days in a sharp reversal of the previously successful long Japan equity, short yen trade. At the same time, volatility has risen to levels comparable to the immediate aftermath of the Tohoku earthquake and nuclear disaster.
7 June 2013
A modest recovery in the US is offset by continued weakness in Europe, whilst the emerging economies are feeling deflationary pressure from weaker commodity prices and a stronger dollar. The bright spots are Japan and the UK.
19 June 2013
While visitors to The Value Perspective could be forgiven for not sharing our taste in holiday reading material, they may well share our experience of the impact of small children on the odds of completing even one book by the pool. Fortunately, the first 50 or so pages of Risk by John Adams still provided plenty of food for thought.
18 June 2013
It has been almost four months since The Value Perspective last visited the unhappy world of platinum mining but, in that time, matters have not improved much for the sector in general and Lonmin in particular. Reconciling the current low platinum price with the difficulty of cutting labour costs is proving especially problematic.