Fly on the Wall

The Kennox Advisory Panel meets every 6 months for a lively discussion on current topics impacting the investment landscape. The advisory panel is made up of Peter Hollis, Russell Napier and Angus Tulloch, together with the Kennox investment team.


November 2012

Inflation, but when? The Panel believes that the risk of inflation in the US is now increasing. The Fed has continued with Quantitative Easing (QE) even though private bank lending is now increasing. This could very quickly lead to inflation. The Panel was not convinced that commodity stocks would be unreserved winners as they were […]

March 2012

China: even pessimism may be over-optimistic There are signs that the good times may be coming to an end in China. Exceptional growth has been fuelled by government spending, a heavily under-utilised workforce being put to work and an undervalued currency boosting competitiveness. All three tailwinds are now turning to headwinds as evidenced by certain […]

November 2011

Euro zone crisis Let’s assume the euro will fail (note the Panel did not necessarily think this was the case but the scenario is worthwhile considering). Should one hold any assets in the euro area? The answer is yes, especially if they’re priced attractively. There is a good chance of a flight by investors to […]