Gold & Dinner at The Savoy

Posted on by Gerald Ashley

A couple weeks back I joined my colleague George Cooper for dinner at The Savoy Grill. We also invited along macro economist Doug McWilliams, and explained to him why this fancy upmarket venue (A Gordon Ramsey badged place) was “critical research” regarding the price (or perhaps more accurately) the value of gold.

Investment in gold and more particularly gold miners has been a very favourable element in the spectacular success of two funds run by George at http://www.equitile.com

Last December I recalled the now largely forgotten metric, the Savory Dinner/ Gold ratio, coined by the well known 1990s stockbroker Julian Baring. So we thought we would do a new “fixing” at a dinner.

The story of this dinner and the background to Julian Baring and his ratio, was picked up by The Times, and below is a great article about it.

An ounce of gold now buys dinner for 14 at the Savoy

https://www.thetimes.com/article/bffadb3c-e65f-4900-b69c-a4cd33336796?shareToken=6029e52bd34de19def9d382fc4e0a7c8

Taxing Growth

Posted on by Gerald Ashley

New Equitile Conversations Podcast Now Out

George Cooper & I chat with Doug McWilliams about what needs to change to improve Growth. We discuss improving incentives, look at taxation, over bearing regulation & just have time to discuss our favourite cars.

https://www.equitileconversations.com/2459100/episodes/18312924-taxing-growth

Mission Impossible – Latest Podcast from Equitile Conversations

Posted on by Gerald Ashley

In this edition George Cooper and Gerald Ashley are joined by Helen Thomas of Blonde Money.

Are many governments in the developed world facing a fiscal Mission Impossible?

They looked at current financial risks, global fiscal challenges, and central bank independence, focusing on the political implications.

The conversation highlighted how political systems and electoral dynamics are shaping economic policies in the post-COVID era, with concerns about rising government debt, market volatility, and the IMF’s limited bailout capacity.

They discussed central bank independence, suggesting it may align with government needs rather than being truly autonomous, and also explored potential political and economic shifts over the next decade, including inflation’s role in addressing debt.

https://www.equitileconversations.com/2459100/episodes/17840466-mission-impossible

Summer Reading from Equitile Conversations

Posted on by Gerald Ashley

At the end of each episode we recommend interesting books. Here is a summary of the recommended books from our first episode in February up to the latest in July

Episode One – The Demographic Transition https://www.equitileconversations.com/2459100/episodes/16771145-the-demographic-transition
Material World: A Substantial Story of Our Past and Future
by Ed Conway
Gambling Man: The Wild Ride of Japan’s Masayoshi Son
by Lionel Barber

Episode Two – The Investor’s Mind: Behavioural Bias Revealed https://www.equitileconversations.com/2459100/episodes/16777961-the-investor-s-mind-behavioural-bias-revealed
Why Most Things Fail
by Paul Ormerod 
Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance
by James Montier

Episode Three – The Dollar & Trump’s Tariff Tantrum https://www.equitileconversations.com/2459100/episodes/16971058-the-dollar-trump-s-tariff-tantrum
Money & Promises
by Paolo Zannoni
Deceit and Self-Deception: Fooling Yourself the Better to Fool Others
by Robert Trivers

Episode Four – The Pension Problem https://www.equitileconversations.com/2459100/episodes/17231799-the-pension-problem
Odds n Sods –  My Life in The Betting Business
by Ron Pollard
Riches Among the Ruins: Adventures in the Dark Corners of the Global Economy
by Robert P Smith

Episode Five – Global Energy – Drivers and Disruptors https://www.equitileconversations.com/2459100/episodes/17416662-global-energy-drivers-and-disruptors
Kings of Shanghai by Jonathan Kaufman
The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources by Javier Blas and Jack Farchy

Episode Six – Time to Retire the Term Emerging Markets? https://www.equitileconversations.com/2459100/episodes/17577861-time-to-retire-the-term-emerging-markets

The Railway King by Robert Beaumont

The Mandibles by Lionel Shriver

and our guest’s recommendation

Our Dollar, Your Problem by Kenneth Rogoff

Time to Retire the Term Emerging Markets?

Posted on by Gerald Ashley

In this Equitile Conversations episode, George Cooper and I, are joined by our special guest Michael Power, and discuss the outdated term “emerging markets.” 

We discus whether it inaccurately describes dynamic economies like China, which lead in technology and growth, while traditional “developed” markets like the US exhibit characteristics once associated with emerging markets, such as fiscal issues and currency volatility.

https://www.equitileconversations.com/2459100/episodes/17577861-time-to-retire-the-term-emerging-markets

About Michael Power

Michael Power is a prominent South African financial markets commentator and strategist, known for his extensive career in global investment, with a focus on Africa and emerging markets. His career spans several decades and includes roles at major financial institutions such as Anglo American, NM Rothschild & Sons, HSBC, and Baring Asset Management, with work in South Africa, London, and Kenya. Power’s expertise centres on geo-economics, the role of Asia in the 21st century, and Africa’s economic relationships with global markets.