Undervalued stocks in an undervalued industry priced in an undervalued currency

Many have written off coal as yesterday’s energy source. But a pair of economic and energy policy realities is creating an unexpected opportunity…

A painful end to tax and spend

What does our political world look like if politicians cannot raise taxes in order to raise more tax revenue? Will they cut spending or turn to inflation?

Mind the gap

Banks were the best performing sector in the FTSE 100 over the past year, outpacing even tech. In my opinion, that was probably way overdone. 2025 may see them give that outperformance back, and possibly more. If history is a guide, they likely will.