MoneyWeek 1076

MoneyWeek is a weekly magazine that enables you to become a better-informed, smarter investor and enjoy the rewards of managing your money with confidence. Week-in, week-out we'll guide you through the financial world as it changes, alerting you to all the opportunities to profit and dangers to avoid, as they appear. Income strategies, rising-star companies, the best funds and trusts, clever ways to preserve your wealth during market turmoil... you will get the best ideas from the sharpest financial minds and investing professionals in Britain.

United Kingdom
Dennis Publishing UK
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3 Min
from the editor-in-chief...

“One thing that is coming out of COP26 is a promise that energy will be more expensive” We often write here about the global economy being at an inflection point. Many of the great trends that have shaped the last few decades are coming to an end. The age of cheap labour is ending as politics restricts easy migration and the world’s population ages. The easy growth, productivity gains and deflationary impulses from the integration of China into our economic systems are all fading. At the same time companies and countries are changing the way they think about supply chains (just in case rather than just in time). All this is disruptive and inflationary in itself. But there is one more factor to add into the mix – the price of…

1 Min
architectural disaster of the week

Charlie Munger (pictured), billionaire vice chairman of Berkshire Hathaway, has donated $200m to University of California, Santa Barbara, to be spent exclusively on dormitories that he has designed, says The New York Post. Munger’s 11-storey, 1.68-million-square-foot construction could hold an impressive 4,500 students, but only 6% of them would have windows in their rooms. Named “Munger Hall”, the eccentric architectural experiment would become the eighth-densest neighbourhood on the planet, falling “just short of Dhaka, Bangladesh”. The efficiency of the project is unquestionable, characterised by Munger himself as “our version of ship architecture on land”, but risks significant damage to student wellbeing from a lack of exposure to sunlight. Consulting architect Dennis McFadden has condemned these plans, calling them a “social and psychological experiment with an unknown impact” and recently quit…

1 Min
good week for

Pop singer Adele sold out 130,000 tickets for a gig at Hyde Park’s British Summer Time Festival in under five minutes last week, says The Sunday Times. Prices ranged from £90.45 for general admission tickets to £579.95 for VIP guests. Fans are eager to see her first performance in five years. The estate of David Bowie (pictured) has entered talks to sell the musician’s songwriting catalogue for $200m, says the Financial Times. Audio streaming has renewed the popularity of 20th-century hits and investors have rushed to purchase the rights to high-profile artists’ work, regularly drawing nine-figure sums in sales. Copyright royalties from sought-after tracks offer a steady income stream for investors.…

1 Min
bad week for

A man has been fined £90 by Bath and North-East Somerset Council, after a CCTV camera mistakenly identified a woman’s T-shirt design for his customised number plate, says The Daily Mail. David Knight lives in Surrey, and was charged with driving down a bus lane due to the error. Fortunately, the penalty has since been waived. A £295,000 bottle of wine has been stolen from a hotel complex in south-west Spain this week, says The Guardian. The 1806 Château d’Yquem, hailing from the exclusive Romanée-Conti winemaker in Burgundy, France, was among 45 bottles stolen by an unidentified English-speaking couple staying at the hotel. Described as “professionals”, they are assumed to be working for a private collector, as the bottle could not easily be sold.…

2 Min
equity bulls stampede to record highs

“Nothing gets in the way of the equity bulls,” says Ipek Ozkardeskaya of Swiss banking group Swissquote. Despite shortages of semiconductors and workers, the energy crisis and ongoing pandemic-induced dislocations, stocks are at record highs. Strong earnings America’s S&P 500 index produced its best weekly performance in almost three months last week. The momentum continued into this week. On Monday all three big US indices – the S&P 500, the Dow Jones Industrial Average and the tech-focused Nasdaq – closed at record levels, say Caitlin Ostroff and Alexander Osipovich in The Wall Street Journal. On the other side of the Atlantic, the pan-European Stoxx Europe 600 also hit an all-time peak; France’s CAC 40 posted its first record close in 21 years. Fears that global supply-chain problems would erode earnings have been eased…

1 Min
tune out of japan’s politics – but buy its stocks

Japanese voters “opted for stability” during a general election on Sunday, says The Economist. The ruling Liberal Democratic Party (LDP) lost seats but retained its majority. It now falls to prime minister Fumio Kishida to put bones on his “fuzzy” pledges to create a “new model of capitalism”. The Topix stock index rallied by 1.8% on the morning following the vote. Investors were relieved that the election delivered a stable government, rather than the more fractured parliament polls predicted. Turnout was low as voters were presented with “few meaningful” policy differences, says Naoya Yoshino in Nikkei Asia. “Economically, both sides put forward generous distributive policies [centred] on direct financial benefits to the public.” There was little “real debate” about how to pay for it, nor about how Japan plans to decarbonise its…