25 February 2026

If Markets Get It Right in the End… Why Are We So Obsessed With Explaining Them?

There’s a comforting phrase investors like to repeat: “Markets get it right in the end.” It suggests that short-term volatility is simply noise, that prices eventually converge with fundamentals, and that patient capital will ultimately be rewarded. It’s rational, reassuring, and widely accepted.

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18 February 2026

The 100-Year AI Bet: Visionary Capital Allocation or Late-Cycle Excess?

When a company issues a 100-year bond, it isn’t just raising capital; it is making a statement. Last week, Alphabet sold a £1 billion 100-year sterling bond at a 6.125% coupon as part of a broader multi-currency debt raise totalling roughly $20 billion. Demand for the bond was nearly ten times oversubscribed.

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11 February 2026

Filofax to Fintech: The Evolution of UK Markets and the Investors Who Navigate Them

The markets may look familiar, but the rules you grew up with? Most no longer apply. In the 1980s, a sophisticated investor in the UK understood the game intimately: strong macro signals, long-term positioning, and an unwavering belief in the power of compounding. The playbook was clear; fundamentals ruled, gilts provided ballast, and equities delivered over time.

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04 February 2026

Equity Markets Run on Trust, not Confidence

If you’ve been investing for a while, this probably won’t sound radical: equity markets aren’t just discounting earnings. They’re discounting a whole set of assumptions that rarely get written down. Assumptions about institutions, behaviour and continuity.

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28 January 2026

The UK Options Market: A Conservative Strategy in a Speculator’s Wrapper

In many UK investor circles, “derivatives” still carry an image problem. For too long, options have been seen as the preserve of speculators; useful only for high-volatility plays, directional bets, or hedge fund aggression.

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21 January 2026

Investing with Memory, Not Luggage: Why the Past Should Inform, Not Inhibit

Every seasoned investor has scars - some wear them like medals, while others let them dictate every future move. But here's the paradox at the heart of professional investing: the market rewards memory, but punishes emotional baggage. So, by all means, use the past as a compass, but don’t see it as a chain of connection.

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