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MoneyWeek

MoneyWeek

Issue 988

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.

Страна:
United Kingdom
Язык:
English
Издатель:
Dennis Publishing UK
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3 мин.
from the editor-in-chief...

“Politicians can’t redistribute years of life as easily as they redistribute cash” This week brought a slew of interesting statistics on inequality in the UK. It turns out that income inequality is slightly higher than we thought (albeit not rising –which is good). More interesting, however, were the numbers on longevity equality. The latest show (pleasingly) that while the rate of increase in UK life expectancy has slowed we are still living longer than ever. Female life expectancy is now 82.9 years and male 79.5 years. However, these numbers do mask some miserable divergences: there is close to a 20-year difference in the length of the lives of those who live in the poorest and the richest areas of the UK. This is a gap that is going to get wider.…

1 мин.
loser of the week

Clifton Collins, a drug dealer from Galway, thought he had found the ideal way to hide his ill-gotten gains back in 2011-2012: he put his money in bitcoin. The digital currency ended 2012 at a price of around $13 per coin and Collins amassed around 6,000 of them across 12 accounts. He printed out the access codes for safekeeping, which he hid among his fishing gear in his rented home. But in 2017 he was arrested and jailed for five years. Ireland’s Criminal Assets Bureau was hoping to sequester the crypto-funds – now worth around £45m, following bitcoin soaring in value – as proceeds of crime. But while Collins was in prison, his landlord cleared out the house and the fishing gear and access codes ended up in the dump.…

1 мин.
good week for:

Samira Ahmed, the BBC presenter who took the BBC to an employment tribunal for sex discrimination and won, reached a settlement with the broadcaster this week. Ahmed (pictured) had claimed £700,000 in back pay, arguing that the work she did, for which she was paid £440 per episode, was comparable with that of Jeremy Vine, who was paid £3,000 per episode. The settlement size was not disclosed, says The Times, “but experts said she was likely to have received at least £400,000”. A man who gave a lift to Richard Branson ten years ago has been rewarded with a free Caribbean cruise, says The Sun. Steve Chandler picked up the Virgin boss near the M40, after he had abandoned his car and driver in traffic. But friends didn’t believe him, so…

2 мин.
equities finally succumb to covid-19

The coronavirus has gone global, says David Fickling on Bloomberg. News of outbreaks in Italy, Iran and South Korea suggests that Covid-19 is “skipping past our quarantine cordons”. The World Health Organisation this week stopped short of officially declaring a pandemic, but if similar clusters keep emerging then that “alarming prospect” will not be far away. Markets roll over “Equities have finally succumbed” to Covid-19, says Rupert Thompson of wealth manager Kingswood. Confidence that the outbreak would soon be contained had seen markets trading close to all-time highs. No longer. News of the global spread of the disease has spooked traders. World markets had their worst day in two years on Monday. The S&P 500 fell 3.4% to lose all its gains for this year; Italy’s MIB plunged 5.4%. The FTSE 100 fell…

1 мин.
south korea’s economic emergency

The coronavirus outbreak has left South Korea facing an economic “emergency”, report Song Jung-a and Stefania Palma for the Financial Times. President Moon Jae-in says that “all possible measures” will be needed to support the trade-dependent economy, which was already ailing because of the US-China trade war. Exports account for 44% of South Korean GDP and the country is considered a bellwether for global trade. Last year GDP grew by just 2%, the slowest rate in a decade. The Kospi stock index gained 7.7% in 2019, underwhelming compared with many other markets. Its index plunged almost 4% on Monday. The South Korean won has fallen to a six-month low against the dollar. South Korea has the largest number of cases of the coronavirus outside China. The outbreak, centred on the city…

1 мин.
viewpoint

“What has made this cycle unique is that the correlation between [US] gross-domestic-product growth and the direction of the S&P 500 index has only been 7%. Historically, it has been 30% to 70%... Economic fundamentals have never mattered as little for the stockmarket as has been the case during this 11-year bull market. The stockmarket is behaving more like a commodity than anything else, in that it’s trading on simple supply and demand. [The reason is that we] have had $4trn of quantitative easing matched perfectly by $4trn of corporate share buybacks… You would normally believe that a powerful bull market in equities would have been reliant on a strong economic backdrop. But… the last 11 years [have been] the weakest... expansion of all time. We haven’t even had one…