Investment Manager’s Report:
Mr Market has never been well received in the boardrooms of major investment houses. Remember 1999 when Mr Market barged in through the green baize door, wearing tech boots and piping the song of rising revenues. Buffet’s refrain of only buying simple businesses was initially cited to preclude respectable houses from investing in tech shares. But castles in the sky compelled respectable investment houses to ‘crave-in’ long before his passing. Today Mr Market is wearing his commodity ‘hard hat’ and this time his tune is all about the monetisation going on and the unwillingness of central bankers to raise interest rates.
