🚨 I know it's only August but this might be my chart of the year Nvidia is cheaper than at any point for 10yrs. This is the company at the centre of the AI-trade Amazon also at a decade-low. Meta, Alphabet, Microsoft cheap on a historical basis too But it's Nvidia which really stands out 1/2

First “run” post-ACL surgery Baby steps and it’s still a long road ahead but boy that felt good

📊 Friday Chart Quiz: can you guess the company? Its forward price/earnings multiple has just fallen a a decade-low Your only clues are that it's a company you will definitely have heard of and I'd be shocked if you're not invested in it. I've not picked a random micro cap

Oh my God, this is not a drill - LinkedIn has added 'seems like AI slop' as an option on posts Genuinely thought it was a joke until I clicked on a few posts

How much more cost competitive is China than the rest of us, across various important industries? Very H/t Marc Saliba for flagging this McKinsey chart

We should be better at saying how great Britain is at building great businesses Biggest venture capital market in Europe, the world’s third largest We have research institutions + entrepreneurial talent + a global financial centre Sentiment influences outcomes. Let’s be more positive!

Today I have mostly been…playing Yahtzee Which has unintentionally (you’ll have to believe me on this) been a fantastic way for the kids to learn probabilistic thinking Even conditional probabilities! Adjusting the prob of an outcome based on what you got on your first (and second) roll

Chocolate bars as an analogy to investing, a conversation with my son www.linkedin.com/posts/duncan...

Got to talking about my son about saving and investing while enjoying the beautiful Plitvice lakes national park in Croatia I tried a standard approach. Shares in companies etc. Jeez, jargon. Son:… |...

Got to talking about my son about saving and investing while enjoying the beautiful Plitvice lakes national park in Croatia I tried a standard approach. Shares in companies etc. Jeez, jargon. Son: “W...

linkedin.com

Mega waterfall day at Plitvice lakes nature reserve. Unreal water colours

I like to think of myself as a reasonable guy, and I have an English wife and my kids were born in London, but there are limits to my enthusiasm to support England I wanted you guys to do well. But, on holiday in Croatia with an 11pm kickoff time for the 3rd/4th place playoff is a step too far

I might be cooking dinner exceptionally or I might be burning it. Who knows

Not a bad spot to watch the match from. Beach bar at the Croatian camping/glamping site we’re staying at

📊Q2 update: share buybacks continue to rise outside the US Watch those Japan + Euro trend lines. At this rate it won’t be long before Japan catches the US. What a change in the world order that would be Fundamentals matter but so does supply/demand. Flows before pros as Tracy Alloway likes to say

Yes I know there’s a football match on but the one thing English and Norwegians can all agree on is that I did well with my apartment research on booking.com

Is there anything more testing of a marriage than packing for holiday when the taxi for the airport is booked for 04.30?

A Norway fan has gone viral for not taking part in their Row celebration after matches and won't do it if they win the World Cup "It’s factually wrong; they didn’t row, they sailed over the Atlantic”

Would you have believed it if someone told you on January 1st: Mag 7 would return 0% with Microsoft down 23% Despite that, US equities would be up 10% US small caps would do even better, up 23% EM 24% Japan 16% And this is all against the backdrop of a war in the Middle-East

📊 A bird's eye view of where 5 equity valuation metrics are currently vs their history, across US, UK, Europe, Japan, EM 100% = most expensive in 20yrs 0% is cheapest in 20yrs What do you notice? Source: Schroders Equity Lens July 2026

Those of us in the industry could do with reminding ourselves of this on a regular basis, myself included

1,000% debt/GDP scenario from the OBR No one asked for this The headlines will write themselves

Jo Michell@jomichell.bsky.social · 4w ago

I see that the OBR has published its fiscal risks report. I kinda feel that something might happen that forces a change of course at some point before we get to debt at 1000% of GDP? And this implies that it's not a very meaningful scenario?

Quick chart showing where credit spreads are vs their 20yr history from @duncanlamont2.bsky.social www.schroders.com/en-gb/uk/int...

Bonds right now are a bit like Trent Alexander Arnold Not very reliable in defence but yield something in attack Tuchel left Trent at home. I don’t think you should do the same with bonds (sorry…) www.schroders.com/en-gb/uk/int...

The best 4th of July content I’ve seen On American independence and the freedom to choose their own systems of weights and measures youtu.be/JYqfVE-fykk?...

Washington's Dream - SNL

YouTube video by Saturday Night Live

youtu.be

Watched the Cape Verde match back “as live” just now without knowing the score. STV player had an ad break after 90 mins before ET then after the ad break went straight to talking about the result! Didn’t have ET at all. Way to spoil the moment

Worth a read, if I do say so myself. Covers equities, bonds (inc short vs long dated), the 60/40, equity sectors and styles, commodities, hedge fund strats The full shebang (not private markets but I do comment on them) Some of the analysis goes back 100yrs www.schroders.com/en-gb/uk/ins...

What equity sectors/styles perform best when inflation is high and rising and when growth is weakening? A cool, new, rich, 4-dimensional way to present the data (not really mobile optimised though)

This is where I’m sleeping tonight Why do I have to be so Scottish with money…

Can’t wait to see how my new summer outfit goes down in the office

The country in the world with the most Japanese people, facing off against the country with the second-most Japanese people, in the country with the third-most Japanese people.

Something I didn’t understand about American drinking habits when I was over there You either have weak flavourless terrible lager Or really rather tasty but why is it 7.2% IPA I asked the server what strength the nice beer I’d been drinking at the Scotland-Morocco match was “I dunno, 8 or 9%” ☠️