Notícies i Política

MoneyWeek Issue 1010

There's a reason MoneyWeek is Britain's best-selling financial magazine. We exist to help you ground your portfolio so that it keeps your money safe during rough patches and growing in the good times. We don't just look at how to maximise your returns and limit your losses, we also like to look at how you can keep more of the money you've made. 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.

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51 Números

en aquest número

3 min.
from the editor-in-chief...

We’ve been boring MoneyWeek readers for years about the importance of holding gold. It should have, I said in 2002, a natural place in your portfolio as a “financial hedge in troubled times”. It was trading at $320 an ounce then. It’s now around $1,950. Not bad for what the naysayers dismiss as a “pet rock”. You’ll have things in your portfolio that have made you more in the last 18 years. But gold has certainly proved its worth in these troubled times (see page 4). Will it go higher? You don’t have to look far to see why it might. There is Covid-19 itself, and the possibility of the much-discussed second wave which Boris Johnson thinks he sees signs of in Europe. There is the response to the virus –…

1 min.
losers of the week

Fat cats – at least those in former communist countries – might have a harder time hiding their underhand dealings, if new research is taken on board. A study by Pavlo Blavatskyy of the Montpellier Business School, published in the journal Economics of Transition and Institutional Change, found a direct link between corruption in post-Soviet states and the weight of their politicians. An algorithm estimated the weight of 299 cabinet ministers using their photographs. In short, the heftier the average cabinet member, the more corrupt the country, reports Tom Parfitt in The Times. Uzbekistan, whose average minister had an estimated average body mass index (BMI) of 35.5, reported a corruption perceptions index of 22 (where a lower number means greater corruption). That compares to 71 for Estonia, whose average minister…

1 min.
good week for

If you haven’t been invited to a vegan barbecue or sipped a rum cocktail with friends, you’re missing out on the biggest food and drink trends of the season, says The Times. According to Waitrose, rum sales have risen by 53% over the last 12 weeks, turning it into the spirit of the summer, while demand for vegan barbecue food has soared by 80% so far this year. MacKenzie Scott, Amazon boss Jeff Bezos’s ex-wife, has donated $1.7bn to 116 charities, including historically black US colleges, climate change groups and health organisations, says the BBC. MacKenzie is the second-richest woman in the world, having received a 4% stake of the internet retail giant after divorcing Bezos last year. She has pledged to donate the majority of her fortune to charity.…

1 min.
bad week for

The head of the Russian Orthodox Church ordered a prominent prioress to part ways with her Mercedes-Benz, says The Times. Big-spending Mother Superior Feofaniya (pictured), head of the Pokrovsky Monastery in Moscow, drew criticism after Russian media discovered she was driving a black Mercedes worth £100,000. Patriarch Kirill reiterated that money donated to the monastery must only be used for social and charitable activities. Britons have been warned not to book a foreign holiday unless it’s with “money they can afford to lose”, says the Daily Mail. Travel insurance policies will not cover changes in local lockdowns or to official travel advice. The news comes after the Foreign Office abruptly changed travel advice for journeys to Spain, warning against “all but essential” travel to the mainland and its surrounding islands.…

2 min.
gold bugs cheer a new record peak...

That “sound you hear is thousands of gold bugs cheering”, says Tracy Alloway on Bloomberg. On Monday the precious metal finally surpassed its 2011 peak of $1,923.70 an ounce to set a new all-time high in dollar terms. In sterling, the yellow metal has long eclipsed its 2011 levels and was trading above £1,500/oz this week, marking a gain of 29% in 2020. Falling real interest rates Gold arouses strong emotions, says Russ Mould of AJ Bell. Bulls love the protection it offers against “unforeseeable disasters”; critics deride it as a “barbarous relic”. The bugs are in the ascendant now, and there is no shortage of things to worry about. Global instability; a possible descent into a deep recession and deflation; and the prospect of more quantitative easing and a surge in inflation…

2 min.
... while silver begins to catch up

If gold is the “money of kings” then silver is “that of gentlemen”, says Ned Naylor-Leyland of Jupiter Asset Management. The two precious metals are “siblings”. While the gold rally has grabbed the headlines, silver has gained 36% in the last month alone. It reached $24 an ounce this week and was close to £19/oz in sterling terms, a seven-year high. The pace of recent gains has been frenetic, with silver jumping by 15% last week. The rally has been driven by similar forces to those pushing gold higher: falling real yields and a growing desire for a safe haven. Yet the recent price action is a reminder that silver is a much more volatile commodity than gold. Silver tends to follow gold, but at a “lag”, says a recent Goldman…