The Monthy Python Theory of Financial Centres

John Royden, Head of Research

Monty Python did not actually have a theory of financial centres. But they did have a theory of dinosaurs which stated that they were thin at one end, fat in the middle and thin at the other end.

Bond focus

Lower for longer morphs to nothing for eternity?

John Royden, Head of Research

As a general rule we used to expect the Anglo-Saxon world of bonds (UK and US) to move in tandem but thanks to extraordinarily loose monetary policy, the rule book has been rewritten.

Guest editorial

The Summer that Terror cancelled

Michael Burleigh

Throughout June and July, the heightened time of Ramadan, a relentless series of terror attacks occurred, in Orlando, Nice and Munich.

General interest

Autumn at Kew Gardens

From my childhood days, my favourite season in nature’s calendar after spring is the autumn.

Equity prospects

Big Yellow Group

Equity prospects

Lloyds Banking Group

Equity prospects


Equity prospects

In this issue:

Stock in focus


Centrica is an energy and services company which owns British Gas, and has energy customers in the USA and Canada. Iain Conn, the relatively new CEO who joined in January 2015 after nearly three decades at BP, told us at a recent meeting that Centrica is executing its new strategy.

Economic focus

More boom than bust

Macro Strategist, Neil MacKinnon shares his thoughts in light of record high markets, depreciating exchange rates, stable property markets and inflation possibly on the horizon.

Cash Investing

Interest Rates At A Record Low

In light of the Bank of England’s first interest rate cut for seven years, James Edgedale comments on the possibility of banks charging to hold cash on deposit.

Understanding finance

Correlation vs. Causation

Correlation vs. causation; what is actually the difference? To illustrate this, consider the below example.

JM Finn news

Write on Kew

JM Finn & Co is the principal sponsor of London’s newest Literary Festival, which will be welcoming a wide range of authors, from Alan Johnson to Brian Blessed, AC Grayling to David Baddiel, Nadiya Hussain to Michael Rosen, Robert Winston to Marian Keyes and Robert Harris.

Collectives commentary

On the defence

Since its foundation in 2000, Troy Asset Management has specialised in a distinctive method of investing that prioritises the avoidance of permanent capital losses. Sebastian Lyon, Chief Executive and Fund Manager of the £3 billion Trojan Fund, explains why he is currently taking a defensive stance in his pursuit of capital preservation.