Category: Investment updates

Lockhart Capital – Q3 2020

Bide “n” Time?   We do not invest in a vacuum, there is always a context, and with it a direction of travel.  As our clients know, we tend to view this context through the prism of socioeconomics and the ebb and flow of the political scene. For a couple of decades our opinion has…

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Lockhart Capital Management Market update – 22 May 2020

We are currently living and investing through the most uncertain and strangest of times. The hugely-experienced and well-regarded Jim Stack at InvesTech Research in the US, states that “the past couple months are unlike anything we’ve seen in our historical experience… or archival data”. Simply put, there has never been a time in modern history…

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Lockhart Capital Management Market Update – 24 April 2020

Investors are still struggling to come to terms with an extraordinary collapse in economic activity, its unprecedented speed, and the fact that we are likely to be teasing out multi-order consequences, and unintended ones, from the various policy responses, for years to come. Economic data is already the worst since the Great Depression of the…

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Lockhart Capital Management Market Update – 17 April 2020

Markets are not as volatile as they were last month (March), but then that was the most volatile month in stock market history. Furthermore, last week was the best week for the US equity market since 1974, so, extraordinary movements are still with us, and as befits the lack of clarity around the COVID-19 virus…

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Lockhart Capital Management Market Update – 27 March 2020

This week kicked off with the market weathering its largest sell-off so far, from retail investors, after the worst ever 5-week run for global equity markets. However, during this period there had already been some mild signs of internal stabilisation within the financial markets and with equities registering significantly oversold positions.  Subsequently we have just…

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Lockhart Capital Management Market update – 20 March 2020

Since our note last week, the news on the progress of Covid-19 has unfortunately got worse.  The policy response however is finally improving, and quite rapidly (though not yet rapidly enough), and with resulting measures that are positive from a public health perspective, but negative in terms of economic outcomes.  Hopefully this can be contained…

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Lockhart Capital Management Market update – 13 March 2020

There has been what can only be described as pandemonium in financial markets this week, the fastest ever bear market (20% decline), from all-time highs, and the worst individual day for equity markets since October 19th, 1987.  This has been predicated on the progress and spread of the Coronavirus, the unfortunately timed oil-price war (Saudi…

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Lockhart Capital – Q4 2019

En passant – debt, risks, and unintended consequences We will circulate a shorter-term piece on markets, valuations and opportunities, early in 2020. Here, however, we look to assess structural risks, the morphing of one debt problem to another, and the reality of unintended consequences. We will also touch upon the changing political landscape (extremism and…

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Lockhart Capital Q1 2019 Outlook

“Context is everything”; so, what is the backdrop in 2019 to advising on generational wealth, and where do we see the risks and investment opportunities? “The fall of Rome seemed unthinkable to people at the time, but inevitable to historians reflecting on it with the benefit of context” – Mary Pilon (author) Globalisation is on…

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