Markets do what markets do

Markets have started the year down and have been quite volatile. This issue encourages investors to take a long-term view and not to second guess the market. In one of our favourite charts, we show (again) that every year markets fall - sometimes materially - from their highs. Reacting to falls is a bad strategy and long-term investors who stay the course will be rewarded. It is a simple message, but one worth reiterating at times like this.

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Acuity2026: Looking backwards and forwardsIn this issue, we reflect briefly on 2025, focusing on several themes frequently raised by investors - most notably around the notion of an AI 'bubble'. The article places the past year's market returns within a longer term historical context.

AcuityThe balancing actThis issue looks at how the mix between bonds and stocks shapes long term outcomes. Using data from February 1979 to November 2025, the chart shows best, worst and average annual returns for portfolios ranging from 100% bonds to 100% stocks. Too little stock market risk and your portfolio may strugg

AcuityINSIGHT: Currency risk through a long term lensFollowing the previous issue’s long-term view on markets, this issue applies the same lens to currency risk, examining the recent depreciation of the US dollar and what it means for globally diversified. Using a simple worked example and historical data, it highlights why currency fluctuations - whi

Markets do what markets do

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