News

ChatGPT - Rise of the machines?

News: 26 April 2023

Type ‘can you write me a fairytale that would take me around 5 minutes to read to my children’ into the search bar and within seconds it will write one for you. ‘Design me a meal plan for a vegetarian consuming 2000kcals per day, excluding broccoli’ – it will immediately produce a meal plan right there and then, with no broccoli in sight.

Market Update 24th April 2023

News: 24 April 2023

The structures of the gardens were planted not on the basis of what will happen in the next three months, or year, or even five years. They were planted with an understanding that they could only be properly appreciated by distant generations.

Market Update 17th April 2023

News: 17 April 2023

Anyway, it is arrant nonsense to suggest that a market which has risen 20% is a ‘bull market”, while one that has gained a mere 19.4% is not. It is what I might paraphrase to be gobbledy.

Market Update 11th April 2023

News: 11 April 2023

Othello was done for by the fragility of his outsized ego. Investors, in contrast, tend to be fooled by the false security of the herd. If everyone is doing it, then it must be right, mustn’t it? Well…

Market Update 27th March 2023

News: 27 March 2023

Market Update 20th March 2023

News: 20 March 2023

Hawksmoor Research: Spring Budget Review

News: 20 March 2023

This is the first full budget in 18 months when two chancellors – Nadhim Zahawi and Kwasi Kwarteng came and went. It is worth remembering some of the key decisions were already announced in the Autumn statement – for example benefits and state pensions increasing by 10.1% from April 2023.

Market Update - 13th March 2023

News: 13 March 2023

With that run spiralling out of control and cries for help to shore up the balance sheet falling on deaf ears, SVB quickly became the biggest bank failure since 2008. With Signature Bank, a crypto-focused lender, also going under worries about contagion started to spread.

Market Update 23rd January 2023

News: 23 January 2023

To have a genuine worth, an asset must produce either a flow of cash, or have a utility. Or at least, the promise of one or the other. Digital coins, most notably bitcoin, do quite the opposite. They are a means of transferring cash from those operating the so-called mines to the electricity suppliers for their banks of megacomputers.

Market Update 9th January 2023

News: 09 January 2023

2023 is different. Brent crude oil was $120/bbl, it is now around $80. European natural gas was €340/mwh, it is now €70. Sterling was less than US$1.10, this morning it is over $1.20. Those tailwinds, unlike the stream of Atlantic depressions coming over Cornwall, look to have run out of puff.