Investing & Accounting

We write on investment and financial reporting. Most of these blogs pre-date our Substack newsletter. We love to hear ideas or suggestions – please get in touch.

China Changes

Chinese tech stocks have been hit by recent Government action. We examine whether the derating is justified and what might come next.

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Patisserie Valerie

We were upset to hear of the demise of Patisserie Valerie and our sympathies to all those affected. I presented at Mello London in December, 2018 about the stock and I was shocked that so many smart retail investors had lost money. This video may help you avoid such traps in future.

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Aramco IPO Mirage

An IPO of Saudi Aramco in late 2018 at a valuation of $2 trillion (tn) has been widely trailed in the Press. We believe the Aramco IPO is unlikely to happen in 2018, if at all, for three main reasons: timing, the oil price, and valuation.

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Closer Look at CAPE

Value investment blogs have been complaining that the CAPE on the S&P 500 is outrageously high. Last I checked the median EV:sales was now above 3x. But I am not convinced by some of the commentary on the extreme valuation of the CAPE, here’s why.

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