Investment Letter Q3 2025

The past three months have felt like a crescendo of political noise. The diplomatic style of the current US administration is forcing a reaction from their counterparts across the world; very much Trump’s intention in some cases. For investors, politics has always...

Investment Letter Q2 2025

The second quarter produced a few events which appear genuinely historic in nature. Whether or not they prove transformational for financial markets will depend on the degree of follow-through from politicians around the world, particularly in relation to trade and...

Dollar Dilemma

” If we lost the dollar as the world currency… that would be the equivalent of losing a war.” – Donald Trump The US dollar (USD) has long stood as the dominant reserve currency of the world, underpinning international trade, financial markets and central bank...