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Autumn 2017 Budget

Please find enclosed our hot-off-the-press summary of this afternoon's Budget.   As with the Spring Budget before it, and the Autumn Statement before that, this (new) Autumn Budget was another damp squib, in our opinion. HM Treasury still clearly has its mind on more important matters, and there was therefore little in terms of substantive change. On the subject of changes to pension rules, cited in just...

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The Six Rules of Asset Bubbles

As the price of one Bitcoin soared past $7,000 yesterday evening, we thought we should dig out the following article from of the archives (originally posted in December 2013) to maintain some perspective. It is our slightly contrarian approach to asset bubbles:   The Six Rules of Asset Bubbles Asset bubbles are highly topical at the moment with bubbles supposedly developing in London property, contemporary art and US...

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RUNNER UP for Investment Adviser of the Year Award 2017

I am delighted to report that we finished as RUNNER-UP in the Moneyfacts Investment Adviser of the Year Award 2017, receiving a nice trophy for being "Highly Commended."   We were very surprised, given we were up against some very well-respected advisory firms.   This came following a two-stage assessment, comprising a questionnaire about our business and why we thought we deserved to win, followed by feedback from clients,...

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Moneyfacts Testimonials

One of the most pleasing elements of receiving a "Highly Commended" award at the Moneyfacts Investment Adviser of the Year Awards were the lovely testimonials left by clients and other stakeholders as part of the assessment process. Below we highlight a few. We are grateful and flattered in equal measure.   “The attention to detail that I've seen Kennedy Black provide to their clients, time and time...

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Finalist for Moneyfacts ‘Investment Adviser of the Year’ 2017

I am delighted to say that we have once again been short-listed for the prestigious Moneyfacts Investment Adviser of the Year award for 2017. We were last short-listed for the exact same award in 2015. This is a national award and other firms on the short list include firms considerably larger than ours, like Hargreaves Lansdown and Tilneys. Please wish us luck in this David-versus-Goliath encounter....

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The Spring Budget 2017

Following his announcement in the last Autumn Statement, Philip Hammond today gave his first Spring Budget, but also his last Spring Budget. He will announce his first Autumn Budget later in the year, followed by a new Spring Statement, which will apparently be nothing like the old Autumn Statements.   In the context of Brexit and the upcoming triggering of Article 50, this was always likely to...

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Summary of 2016 Budget

Here as usual is our summary of the main announcements in today’s Budget, with some thoughts and comments to boot.   The build-up to this Budget suggested it could be far-reaching and highly memorable, but in the end it appears that political pressures linked to the EU referendum in June may have got the better of the Chancellor. There was a lot of fluff and not much...

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Why we are programmed to panic

Humans are terrible investors. Our brains are primarily driven by emotion and, in certain situations, it can make us act irrationally. This presents a problem for traditional economics, where there is a presumption that everyone acts rationally.   To demonstrate this, imagine I offer you a game to play. A simple coin-toss: heads or tails. If you win, I will give you £1; if you lose, you...

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“IF… you can keep your head while all around are losing theirs”

2016 has started in spectacularly poor fashion, eerily reminiscent of 2008 – a story that didn’t end well.   In the furore of doom-and-gloom headlines, we prefer to ask a slightly more unorthodox question: How does it make you feel?   If all this uncertainty* makes you feel anxious then you should try to go back to basics and follow these three rules:   1. Understand your risk tolerance: research from...

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