The gold miners are outperforming gold, a trend which is long overdue. The miners have operational gearing and are supposed to lead the gold price during gold bull markets.| ByteTree
Quality| ByteTree
Last Thursday, the Bank of England cut interest rates by 0.25% to 4%. The ECB have already got them down to 2.2%, with the euro still performing well. In the US, the Fed has held them at 4.5% but is expected to cut to 4% in the autumn.| ByteTree
In this issue, we are buying quality stocks in the portfolios, and selling risk, as high vol stocks outperform. This worries us, as newer growth stocks beating established profitable companies suggests speculative excess.| ByteTree
In this Q2 2025 update, we review the performance of our model portfolios in The Multi-Asset Investor and our special situations service, Venture.| ByteTree