On Balance
Storm season arrives We call our regular Apollo based commentary “The Weather report”. The analogies that we can make with the multiple elements of Value, Momentum and Uncertainty impacting markets in a continuous way chimes nicely with the idea of Currents, Tides and Winds, all impacting the navigation of the high seas. Whatever the nature of […]
As summer ends, we move into more autumnal conditions in the markets. Things remain relatively stead but we can expect a pick up in the weather ahead as corporate reports and macro factors start to set the course to year end.
Beyond the weather report, the other essential maritime document is the Nautical Almanac. In many ways, a form of Market Almanac could be a useful addition to the information system for investors and the following document is a version of it, based upon the Apollo view of the markets.
As a slowing July Market looks towards August with a few concerns about overvaluation and falling momentum, we remain relatively unfazed. Our portfolios are consolidating from a good first half so we will be looking towards our mid-August rebalance with interest.
Setting up for the summer. As markets review how they survived the turmoil of the Spring, thoughts turn to summer…