The City

The poisoned chalice

30 May 2024
As the electioneering begins it’s worth considering why Sunak called a snap election in the first place. Has something spooked him into action? Indeed, there are several prominent possibilities…

Don’t take the grid for granted

23 May 2024
Its entirely normal to take certain things for granted. Few of these come closer in our everyday experience than flicking on a light or other electrical switch. Successful investors know better. Nothing should be taken for granted, including our electrical grid.

The prize of Zaporizhzhia

9 May 2024
Russia seized Europe’s largest nuclear power plant in Zaporizhzhia during the first days of the Ukraine war. Energy infrastructure has played an important role throughout and, regardless of how the war plays out, energy, including nuclear, remains an absolute “must-invest” sector…

Born to run

29 April 2024
Investing may not be a race per se but, if it were, it would most closely resemble a marathon rather than a sprint. As it happens, distance running was central to human evolution, including the development of our brains. Yet we retain certain primitive biases that can interfere with investing. Fortunately there are ways to compensate.

Other people’s money

28 March 2024
Open an introductory Economics textbook and one of the first things you’re likely to come across is a definition of what, exactly, Economics is. These tend to be short, for example, “The science of resource allocation” or “The study of production, exchange and consumption”.

Reader mail: Does R + F = L?

26 March 2024
My article about the equation that gives oil and gas a new lease on life has stirred up the reader mail inbox. Thanks for your feedback. Believe it or not, all of it was thoughtful and civil enough to publish…