Last year luxury car sales in Singapore collapsed. Sales of new Bentley, Ferrari, Jaguar and Rolls Royce models were down by as much as three quarters compared with 2023. This wasn’t caused by an economic slowdown. Singapore’s government clamped down on money laundering. Most buyers of such cars are Chinese nationals. Car dealers are required […]
A new administration took office determined to change the economy’s direction with overhauled policies. The leader and key advisers huddled, drawing up their plans in relative secrecy. Once ready, they were unveiled with great fanfare, heralding a new dawn in economic stewardship. Markets, caught by surprise without having had the opportunity to assess them via […]
Americans did vote for tariffs when we elected Donald Trump. Many perhaps thought they’d be implemented with a clearer strategic purpose. I had hoped we’d use them to open up foreign markets such as the EU, reducing our trade deficit by exporting more not by importing less. And most voters probably weren’t voting for a […]
Which is a more important measure of an investment manager’s skill – the return on the first dollar invested at inception, or the return on the average dollar? Return since inception is widely used because it covers the longest period. If performance is reasonably consistent, both methods should tell the same story. That this is […]
