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John Husselbee: The Great Fall of China

Weakness in China’s economic data and the devaluation of the yuan has been coupled with a collapse in Chinese share prices which has now fed through to global equity markets in a sell-off already dubbed “Grey Monday” in the media. However, it would be wrong to attribute this correction to any one event as tension in markets has been mounting since Greece missed an IMF repayment earlier this summer.

Stephen Bailey, Macro-Thematic: Market correction is a buying opportunity

The magnitude of the UK equity market’s correction looks overdone to us and we think we are now looking at a summer stock sale that is not to be missed. Market volatility has jumped and in these situations one has to resist the temptation to get caught up in short-term herd behaviour; rather than sitting on the sidelines waiting for the turmoil to blow over, we have instead been deploying fund inflows into our favourite areas of the market, such as the telecommunications sector and several names in financials (but not banks). 

John Husselbee: Red notice

Typically when I pack a suitcase for holidays, I will grab a few books from the pile balanced precariously on the edge of my desk in the study. These and the hundreds more squeezed onto the bookshelves or scattered around my house share a common thread – they are mainly investment related, mostly market history, theory or educational but very rarely fictional. Some I have read more than once and others I have barely engaged in a cursory glance. At the risk of taking a busman’s holiday, I would still rather read an investment book on my sun-lounger than a novel from Waterstone's bestseller list, even after thirty years working in the fund industry.

Jamie Clark, Macro-Thematic: The ‘quad-plays’ transforming the telecoms industry

We are overweight the telecoms sector because we believe that select telcos are actively transitioning from utility-like, value propositions to attractive growth businesses. Consolidation and strategic partnerships are likely to play a large part in changing the face of the industry over the next few years as market participants jostle for position. We think that content will be the enabler in allowing telecoms operators to monetise huge growth in data consumption. As technologies converge, a ‘quad-play’ offering – fixed line, mobile, TV, broadband – is becoming increasingly key for customer retention.

Disclaimer

Any opinions expressed should not be construed as advice for investment in any [product or] security mentioned or which may form the underlying content of any topics discussed in this blog.  The information and opinions provided in this blog take no account of the investors’ individual circumstances and should not be taken as specific advice on the merits of any investment decision.   Any opinions or information provided has been based on sources we believe to be reliable at the time of this blog’s preparation: no representation or warranty, express or implied, is made as to the accuracy, reliability or completeness of such information.  Neither Liontrust, nor any of its partners, employees, representatives or agents accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of our research or its contents.

Liontrust, its partners and/or employees may have had, have or will have positions in the securities (or related financial instruments) which are those referred to, or those underlying the content discussed in this blog.

Any individual who chooses to invest in any securities should do so with caution. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested.  Always research your own investments and consult with a regulated investment advisor or licensed stock broker before investing.

Shares in companies referred to may be relatively illiquid and hard to trade, therefore riskier than other investments and there could be a large bid/offer spread, so if you need to sell soon after you’ve bought, you might get less back than you paid. This can make them riskier than other investments.