In this month’s newsletter, Henk Myburgh, CFA will explain how money supply is theoretically a leading indicator of company earnings. He will then analyse its historical performance in the USA and what we can learn from the current relationship between money supply and company earnings and its potential impact on the US market.

In our previous newsletter, Henk Myburgh, CFA, explored a mathematical tool that can help guide allocations to individual investments: the Kelly Ratio. In the final instalment of this series, we will explore how the Kelly Criterion can be extended beyond single investments to evaluate the safety of portfolios as a whole.

In our previous newsletter, Henk Myburgh, CFA, explored different approaches to allocating capital across asset classes. Now, we turn our attention to a mathematical tool that can help guide allocations to individual investments: the Kelly Ratio.

This newsletter is the first in a series of three, where Henk Myburgh, CFA, will provide an overview of different methods used to allocate capital to asset classes, listing the advantages and limitations of each and indicating the combination of methods used by Pyxis Investment Management.

In this month’s newsletter Henk Myburgh looks at target return objectives and discusses the potential pitfalls of the narrative fallacy by using investment themes. He compares Nominal and Real returns and argues that Real returns should be favoured as an investment objective.

Is it rational to allocate less to bonds than the traditional 40% for a balanced portfolio?

Can the Fed claim a “soft landing”? A deeper look at the relationship between the yield curve and historical recessions, leading in to the Fiscal Dominance concept, the current US yield curve and economy.

A brief recap of the major headlines of 2023, followed by some detail on one of the major headlines of 2024, national elections spanning across the globe.

Concentration unpacked through a comparison of the MSCI World Index according to two different weighting methodologies.

By recognising the tendency to overestimate short-term impacts and underestimate long-term effects, investors can make more informed decisions, focus on their long-term goals, and stay committed to sound investment strategies.